In pursuit of its mission for economic systems change, B Lab announced the launch of the B Movement Builders initiative.
Inspired by the leadership of the global Certified B Corporation community, B Movement Builders is a coalition of purpose-driven, multinational, publicly-traded companies with a vision of transforming the global economy to support long-term value creation for all stakeholders. The program’s founding cohort has collective revenues of ~$60bn USD and 250,000 employees.
The founding B Movement Builders are vegetable processing company Bonduelle, steelmaker Gerdau, flavors and fragrance company Givaudan, and the retailer Magalu, with health-focused food and beverage maker Danone and beauty company Natura &Co serving as mentors. While this is not a certification of their performance, B Movement Builders undergo an initial screen for eligibility and their ongoing efforts as part of the program will be overseen by B Lab's independent Standards Advisory Council.
Maintaining B Lab’s commitment to strict criteria and transparency, at minimum B Movement Builders commit their company to: CEO signature of B Lab's Declaration of Interdependence; use the B Impact Assessment to measure and manage social and environmental impacts; produce and share publicly a materiality assessment; and, set goals and show progress toward achieving at least three aspirational goals tied to the Sustainable Development Goals. Collectively the companies must: share publicly each company’s commitment to meet the three core principles; support the B Movement; collaborate with other companies and stakeholders working toward Sustainable Development Goals; sign a joint statement with other B Movement Builders about stakeholder governance; and engage with key shareholders and policymakers on the broader topic of stakeholder governance.
Transforming the operating principles and governance of large public companies takes time, commitment, and courage. Companies undergoing this evolution of governance, policies, and practices need support and peer collaboration—and businesses helping other businesses is at the heart of the B Movement Builders program.
More than ever, companies need to work collectively and interdependently toward a system that is truly inclusive, equitable, and empowers all people. The world is calling on companies to act in meaningful and authentic ways to address the rampant inequality and climate crises which are becoming more acute and threaten the most basic of systems on which all of life and business depend: nature and human interdependence.
The B Movement Builders initiative was developed with support from Partners for a New Economy, Porticus, The Prudential Foundation, and the Skoll Foundation.
For more information:
Benjamin Zehnder
Tel: +33.(0)6 76 41 18 19
Email: benjamin.zehnder@rp-carrees.com
www.bonduelle.com