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
NEW YORK, Sept. 25, 2012 /PRNewswire-USNewswire/ -- 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 U.S., 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.
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 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.
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'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.
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