Time to bring in the B team?

The B Team, a global non-profit founded by Richard Branson and Jochen Zeitz has its sights set on some game-changing tactics in the world of business. The team of world renowned business heads has been set up to help engage businesses in prioritising people and the planet alongside profit.

Business leaders, pioneering sustainable business initiatives, including Jochen Zietz, director and chairman of Kering's sustainable development committee and former CEO at Puma, Shari Arison, Kathy Calvin and Arianna Huffington will be among the select group of business leaders.

President and editor-in-chief of The Huffington Post Media Group, Arianna Huffington said: “We need a ‘Plan B’ for the way business is managed, starting with leadership more committed to well-being, wisdom and sustainable business success.”     

At a live online broadcast to over 200 gatherings in 60 cities around the world, the B Team Leaders issued a joint declaration. “Today we want to start a global conversation on a ‘Plan B’ for business” said Richard Branson. 

The declaration acknowledges key global problems such as growing inequality, unemployment and the unsustainable use of natural resources. The group seeks to spark a movement of leaders around the world to drive forward responsible business practice.

The leaders have been carefully selected by a global network of advisors to deliver ‘Plan B’, and will speak with a collective voice to the business sector, working with partners to break down barriers to more sustainable and socially-oriented business.

Richard Branson said: “We are working with government agencies, the social sector, and the business leaders to help get on top of some of the world’s seemingly intractable challenges. We are keen to listen, learn and share with others to build businesses that do what’s right for people and the planet.”

The team will commit to three main global challenges, ‘The Future of Leadership’, ‘The Future Bottom Line’ and ‘The Future of Incentives’ to shift the focus of business. 

“Business is integral to society but it has also created most of the negative environmental challenges of this century” said Jochen Zeitz, “The B Team will help catalyse a shift away from the existing short-term, unsustainable mindset, towards the long-term interest of people, the planet and the wider economy. Tackling these three challenges is a starting point for a ‘Plan B’ to form.”

‘The Future of Leadership’ global challenge will be underpinned by a moral compass of being honest, fair, positive and creative and principles of inclusive leadership. It is built on cooperation and will be aimed at building long-term value for society, the economy and the environment.

The ‘Future Bottom Line’ challenge will aim to expand corporate accountability beyond financial gains to include negative and positive contributions to the economy, society and the environment. It is determined to move away from single-minded financial ‘short-termism’ and look towards a focus on the long-term.

Finally, to adress the ‘Future of Incentives’ Challenge, The B Team look to work with partners to develop new incentive ideas as well as map out the positive and negative subsidies. This should help to shift market and business behaviour towards incentives that maximise social, environment and economic business benefits.

Over the coming months The B Team will be hosting a series of community events. Contribution and opinion from the general public is highly encouraged the team develops a new charter for better business.