B Corp movement launches in UK
B Corp, the movement seeking to change the role of business in society, has launched in the UK.
While regular companies exist for the interests of their shareholders, B Corps are companies where the interests of employees, communities and the environment rank alongside those of shareholders. B Corps are also required to change their legal documents so that employees, communities and the wider environment rank alongside shareholders in decision making processes. B Corps formally commit to the B Corp community principles through signing a declaration.
Global B Corps include Patagonia, Hootsuite, Ben & Jerry’s and Change.org and Kickstarter. In the UK 61 businesses have been certified, including Ingeus UK Limited, Generation Investment Management, The One Brand, Cotswold Fayre, Bates Wells Braithwaite, Cook and Volans.
James Perry, director at B Lab UK,the not-for-profit which exists to support the community of UK-based B Corps, commented: “Britain has shaped so much of the modern global economy, and remains the world’s leading financial centre. But it’s obvious that the global economy needs to evolve so that profit, people and planet are all served by business. We must consign to history the idea that we have to choose between them.
"The B Corp movement is enabling businesses to make a positive contribution to all three. We stand on the shoulders of giants here, and are hugely grateful for the welcome we’ve had from an inspiring group of leaders from business, government and the social economy. We look forward to working together with them in this long term endeavour to create a new economy that serves people and planet as well as profit.”
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