You may have read that nearly 200 CEOS who are members of the influential Business Roundtable have signed a The Business Roundtable, a “Statement on the Purpose of a Corporation,” intended to serve as a “modern standard for corporate responsibility.” The signatories state that their sole concern is no longer just shareholders. Now, they pledge to work “for the benefit of all stakeholders — customers, employees, suppliers, communities and shareholders.”
At this point, there is no action plan. Just words.
Question: Have the signatories reached out to B-LAB, which certifies businesses that demonstrate their corporate responsibility through demonstrated metrics. Have they pushed states to designate qualified firms as social benefit corporations?
Collaborating, or at minimum, consulting with B-Lab, a Philadelphia-based nonprofit that designates Certified B-Corporations that demonstrate through data their commitment to people, planet, and profit. Likewise, the Business Roundtable should benefit from the expertise and experience of states like California that designate qualified firms as social benefit corporations/
These would be would be important first steps in demonstrating that the Business Roundtable's statement is more than just words.