From Shareholder Primacy to Stakeholder Capitalism and the SDG Action Manager Recognized by Fast Company’s 2021 World Changing Ideas Awards
New York, May 4, 2021 — The winners of Fast Company’s 2021 World Changing Ideas Awards were announced today, honoring the businesses, policies, projects, and concepts that are actively engaged and deeply committed to pursuing innovation when it comes to solving health and climate crises, social injustice, or economic inequality.
B Lab is honored to have received three separate distinctions recognized by the awards:
“From Shareholder Primacy to Stakeholder Capitalism: A Policy Agenda for Systems Change,” was selected as a Finalist in the Politics & Policy category. This white paper proposes that the U.S. Congress adopt 'benefit governance,' a theory of governance that requires both investors and companies to look beyond financial returns and take responsibility for the impact of their practices on all of their stakeholders.
The SDG Action Manager was selected as both a finalist in the Establish Excellence Category and honorable mention in the AI & Data category. The SDG Action Manager, co-developed by B Lab and the UN Global Compact, is a self-assessment impact management solution designed for businesses to internally assess and manage their efforts toward the Sustainable Development Goals (SDGs) — the blueprint to building a better world for people and our planet by 2030.
Now in its fifth year, the World Changing Ideas Awards showcase 33 winners, more than 400 finalists, and more than 800 honorable mentions — with Health and Wellness, AI & Data among the most popular categories. A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries across transportation, education, food, politics, technology, and more. Plus, several new categories were added, including Pandemic Response, Urban Design, and Architecture. The 2021 awards feature entries from across the globe, from Brazil to Denmark to Vietnam.
About B Lab: B Lab is transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, and tools for business, and we certify companies — known as B Corps — who are leading the way. To date, our community includes nearly 4,000 B Corps in over 70 countries and 150 industries, and over 100,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager.
About the World Changing Ideas Awards: World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.