Sir Richard Branson, founder and chairman of Virgin Group, and Jochen Zeitz, chairman of Puma, launched a nonprofit group called The B Team on Thursday, Business Green reported.
The B Team aims to build a better version of capitalism, one that prioritizes people and planet over profit. By joining forces with business leaders from across the globe, the group will campaign for reforms that will make businesses more socially responsible, The Economist reported.
"Today we want to start a global conversation on a 'Plan B' for business," Branson said in a statement. "We are working with government agencies, the social sector and 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."
- Arianna Huffington, Chair, President & Editor In Chief, The Huffington Post Media Group
During a live online broadcast, the B Team Leaders also issued a joint declaration: "We, the undersigned, believe that the world is at a critical crossroads. Global-business leaders need to come together to advance the wellbeing of people and the planet. In fact, we think business has to think this way in order to thrive."
Click here to read Arianna's vision for The B Team.