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B Corporation invites Business Rountable companies to work together to make real change happen
Author: Michael Grothaus, FastCompany, Published on: 28 August 2019
"Patagonia, Ben & Jerry's, and 30 other companies tell the Business Roundtable CEOs to put up or shut up," 26 Aug 2019
The Business Roundtable’s decision was huge news considering it proffered upending the decades-old capitalist goal of maximizing profits at any cost to a more holistic goal of looking out for the well-being of everything the company’s actions affects. However, the Business Roundtable’s decision to change the definition of the “purpose of a corporation” isn’t legally binding... The B Corporation movement, as its cofounders explained in an op-ed in Fast Company last week, have not only committed to delivering value to all of their stakeholders, not just their shareholders—they’ve gotten legislation passed that legally requires them to do so... the B Corporation took out a full-page ad in Sunday’s edition of the New York Times imploring Business Roundtable companies to join its B Corporation movement and get certified by them, which, in order to do so, would mean that the Business Roundtable’s new “purpose of a corporation” definition would need to be made legally binding... Current B Corporation companies include heavyweights like Ben & Jerry’s, Kickstarter, Patagonia, Danone, Hootsuite, Eileen Fisher, Amalgamated Bank, Stonyfield Organic, Natura, and more.