Latin American businesses are demonstrating a hybrid approach to sustainability, with a genuinely distinctive “Latin” model increasingly likely
B Corporation is creating something of a storm in North America. That’s no great surprise. The holistic “good business” certification scheme taps into the zeitgeist. Customers and employees are increasingly looking for companies with a “purpose” that lies beyond mere profit. And, in the US especially, there’s an ever-expanding coterie of dynamic, mostly young social entrepreneurs to give them what they want.
So why the success, and what does it reveal about the field of sustainable business practices in Latin America?
First and foremost, sustainable business is not new. It may not have been branded as “sustainability” until recently, but the notion of businesses having a broader social mandate has a long heritage. Even without consumer or labour market pressure, therefore, ideas of business ethics and philanthropy chime with regional business leaders.
So the shift to...