Chef Jamie Oliver is to turn the remains of his business into an ethical “B Corporation” that officially gives equal weight to people, the planet and profit, according to a report in the Guardian Newspaper.
Billed as a fair trade label for companies, the B Corp movement describes itself as a “global movement of people using business as a force for good”. It is gaining impetus as the climate crisis coupled with mounting inequality sees business leaders question what success looks like in the 21st century. B Corps commit to focusing as much on social and environmental concerns as they do on profits – the so-called “triple bottom line”
B Corp businesses want to bring about a global culture change to redefine success in business and build a more inclusive and sustainable economy. They use profits and growth to give a positive impact for their employees, communities and the environment. The aim is to reduce inequality, lower levels of poverty, a healthier environment, stronger communities and to create a higher quality of jobs.
Currently, there are 217 B Corp businesses in the UK compared with 2014 when there were only six companies involved.
Oliver said: “I couldn’t be more excited about what’s next. The 2030 Project is my North Star and we will continue to shape our business to make sure that everything we do helps us move the dial a little bit further in the right direction.
“If we’re going to reshape the food landscape, we need to create an environment that cultivates and celebrates healthier lifestyles – giving the public better access to convenient, good, honest food.
“The child health epidemic is a man-made problem – it’s also something we can fix. ”
He added: “I believe the 2030 Project will be my legacy, and I couldn’t be more excited about what’s next.”
Executive director of B Lab UK, the charity founded to grow the B Corp movement in the UK, Chris Turner told The Guardian: “Businesses of all sizes, and across industries, are recognising the need to change how business operates. By becoming a B Corp they make a meaningful commitment to make this change and to prove that business can be a force for good.”