Be Part of the Solution, Not Part of the Problem: B Corps

Published on October 18, 2017

Pedro Tarak — Key Insights Driving the Future of Quality of Life for Citizens

What if businesses were driven by purpose rather than profit? B Corps offer a different way of doing business that is socially, environmentally and economically responsible. The time is now for us to begin thinking about leaving this sort of legacy to future generations, according to Pedro Tarak. His passion for B Corps was palpable as he explained what they are: business built around causes such as regenerating natural ecosystems and supporting indigenous communities that depend on them. For investors, employees and citizens, B corps offer a novel way of defining a successful business.

In a world where business is in general responsible for all our social illnesses, B corps are offering something new: positive complicity.

What Are B Corps?

Today there are more than 2,300 B Corps in 50 countries. These companies are certified to meet rigorous standards of social and environmental performance and accountability, from fighting deforestation in the Atlantic Forest of South America to helping single mothers earn a living. Tarak gave two examples to illustrate the B Corps approach to business. Guayakí is a beverage firm that includes ecosystem regeneration and social inclusion in its core business. Crepes and Waffles, a very popular restaurant and the largest restaurant chain in Colombia, was created to bring single mothers into the market – which is its statutory, legally binding purpose. “People save up all year long to be able to have their New Year’s Eve dinner at Crepes and Waffles,” explained Tarak.

“We are bringing the humanity of our own nature into the market in each or our transactions – that’s the novelty of B corps.”

Start Thinking Now about the Legacy You Want to Leave

Millennials want to work for companies like these with a social purpose, according to Tarak. “B corps are contagious,” said Tarak, because once you start to engage people in societal inclusion, it creates a desire for the company to succeed among all stakeholders. He encourages individuals and companies not to wait before contemplating what sort of legacy they want to leave for future generations. “Let’s start having that conversation from the beginning,” he said, when companies are founded.

B Corps offer an alternative approach to business to replace the assumption that politics is the only channel for large scale solutions. Tarak said he senses the dawn of a near era where individuals and business will work together to leave a collective legacy.

Millennials are asking for a new genetics of business, and society in general wants that too. I’m showing results and case studies. You’ll know if you want to be in this generation of companies.