Why More Companies Should Consider Becoming B Corps

When the coronavirus pandemic hit and its economic implications became clear, Leadership Next wondered if CEOs would quietly shelve the idea of stakeholder capitalism and focus on their bottom lines. But for food giant Danone, the crisis has instead accelerated its commitment to people and the planet. It’s on the path to becoming a certified B Corporation, meaning it will be held to strict standards for social and environmental impact. Company CEO Emmanuel Faber now wants to hit that goal of becoming the world’s largest B Corp even sooner.  Why? He feels it’s a competitive advantage. Faber explains, and tells Alan Murray how shifting toward B Corp status has changed the company’s behavior.  The majority of B Corps are small businesses, but a growing number of larger companies are showing interest in the certification, according to Anthea Kelsick, Co-CEO of B Lab U.S. & Canada. That interest was spurred by the Business Roundtable's shift to stakeholder capitalism last year and, more recently, by both COVID-19 and the business community's spotlight on racial justice. Kelsick speaks with Ellen McGirt.