Richard Branson has announced a new global initiative, The B Team, aimed at transforming the future of business. The Virgin Group Founder was recently joined in New York by Puma chairman Jochen Zeitz, as the pair co-founded the project.
The B Team will be a group of global business leaders who share similar views about the need to transform the future of business and use entrepreneurial skills to help solve critical social and environmental issues, explained Branson.
With The B Team we want to champion concrete solutions to help make capitalism a driving force for social, environmental and economic benefit.
Early 2013 will see The B Team announce their inaugural Grand Challenge, which will see them work with partners to establish ways of measuring, valuing and reporting the impact of their work in terms of profitability and sustainability. In the build-up to this the members will be speaking with young entrepreneurs, in the hope of pinpointing the roadblocks which prevent businesses contributing to the greater good.
The B Teams first meeting saw the group discuss a wide range of social and economic issues, drawing on their vast business experience. The progress already made has given Zeitz great hope for the future of The B Team: Listening to a group of inspiring young people and how they view the issues that we are facing in our world today was invaluable.
They will be inheriting the damages the previous generation left behind on the planet and I was reassured by their values and ethical awareness that they will make decisions for the benefit of both nature and society. I look forward to continuing the conversation we began yesterday.
Much like The Elders and Carbon War Room, The B Team is being incubated by Virgin Unite, with young entrepreneur Derek Handley acting as co-founder and CEO.