“You ought to look at these B Corporations … We’ve got to get back to a society that doesn’t give one class of stakeholders an inordinate advantage over others.”
— Bill Clinton, former president of the United States
Well, Bill, we agree. Well before many other prominent politicians have understood the benefits of using the power of business to enact good in the world, the former President shared his support in a speech at Oxford University in 2012 (see the video below).
“Quarterly shareholder values should not be the only benchmark by which we judge corporations. I think the fact that companies that follow sustainable paths are more profitable that those which don’t means that its worth investing in something with a slightly longer time horizon,” he says.
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Bill Clinton isn’t alone in his thinking. Robert Shiller, Nobel laureate in economics, has also supported the shift in business to one focused on impact as well as profits. Not solely because these companies do good for the world, but because these companies will be more successful in the long run.
“I think B Corporations will make more profits than other types of companies,” Robert Shiller says in The B Corp Handbook by Ryan Honeyman.
Watch the video, where Bill Clinton talks about the importance of shared values and B Corporations:
Clinton Global Initiative Support
Established in 2005 by President Bill Clinton, the Clinton Global Initiative convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. The group’s annual meeting is held each September in New York City. In 2012, B Lab formally launched a partnership with Sistema B (B Lab South America), to serve and support the community of Certified Empresas B (B Corps) in South America.
At the 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.
Fast-forward to 2016, and there are more than 1,700 Certified B Corps in more than 50 countries. B Lab now has global partners in Europe, the UK, Canada, Australia and New Zealand.