Danone’s transformation with purpose … Emmanuel Faber is showing how the largest companies can be B Corps, with a better approach to business

March 19, 2020

“We do not consider the purpose of this company to be returning money to shareholders. There is a broader purpose.” says Emmanuel Faber, CEO of Danone.

As the realities of climate change meet the injustices of wealth distribution, many people are struggling to see how capitalism in its current form can stay relevant. At the same time, it’s not clear how any alternative system could possibly keep a growing population fed, sheltered, and employed.

One answer is to reform the system we have, as a growing band of hedge fund billionaires and public-company CEOs have suggested. But when executives talk about serving a purpose beyond making rich shareholders richer, their words can ring hollow. Too often we find that what a company does, for example avoiding taxation, conflicts outright with these lofty new promises to society.