Episode 12 with Eleanor Allen | The Benefits of a New Economy

August 29, 2023
The Business of Impact Podcast

Have you made the shifts to your business required for the new economy?

This week, I continue my conversation with B Lab’s Lead Executive, Eleanor Allen, where we discuss the B Corp movement, the necessity for a regenerative capitalism approach, and who the stakeholders are that will benefit from a new economy.

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Show Notes

About the Guest(s):

Eleanor Allen is the Lead Executive at B Lab Global, the organization that has certified over 7,300 companies across the globe as Benefit Corporations or B Corps. With a background in water engineering and a passion for sustainability, Eleanor is dedicated to using the power of business to drive positive change and solve the climate crisis. She believes that by embracing stakeholder governance and considering the interests of all stakeholders, businesses can become a force for good in the world.

Episode Summary:

In this episode, Cecilia Edwards interviews Eleanor Allen, the Lead Executive at B Lab Global. They discuss the concept of B Corps and why they are necessary in today’s business landscape. Eleanor explains that B Corps are companies that voluntarily undergo a certification process to improve their performance across various aspects of their business, including their impact on workers, communities, customers, the environment, and governance. She emphasizes that B Corps are not just about greenwashing, but rather about using business as a force for good and creating a more sustainable and equitable economy. Eleanor also highlights the importance of considering both the planet and the people in sustainability efforts and shares insights on how B Corps collaborate and support each other to increase their collective impact.

Key Takeaways:

B Corps are companies that voluntarily undergo a certification process to improve their performance across various aspects of their business, including their impact on workers, communities, customers, the environment, and governance.
B Corps are not just about greenwashing; they are about using business as a force for good and creating a more sustainable and equitable economy.
Sustainability efforts should consider both the planet and the people, including the well-being of employees and the working conditions throughout the supply chain.
B Corps collaborate and support each other through various initiatives, such as sharing best practices, forming industry-specific coalitions, and advocating for legislation and regulation that align with their mission.
The ultimate goal of the B Corp movement is to shift the way businesses operate and make stakeholder governance the norm in capitalism.

Notable Quotes:

“If we could take the power of business and use it as a force for good, I truly believe we can solve the climate crisis and regenerate this planet.” – Eleanor Allen
“Good business is good for business. When you can pull that into a full circle, that’s not necessarily a trade-off.” – Eleanor Allen