B Lab and CIIP to Establish Centre of Excellence for Asia in Singapore

Non-profits B Lab Global and the Centre for Impact Investing and Practices (CIIP), have announced their intent to collaborate on establishing the B Lab & CIIP Centre of Excellence for Asia (the “Centre”).

As a first step, representatives from B Lab Global will be stationed in Singapore to coordinate the Centre’s establishment, engage companies in the region through workshops and other events, and gather input from companies to inform the new B Corp Standards.

Both organisations recognise the central role of businesses to transform the global economic system and achieve a positive impact for all people, communities, and the planet. Together, they will work to accelerate the growth of the B Corporation (B Corp) movement across companies in Asia, mainstreaming a stakeholder model of governance.

With more than 6,900 Certified B Corps across 91 countries, B Lab brings expertise in economic systems change and creates standards, policies, tools, and programmes that shift the behaviour, culture, and structural underpinnings of capitalism. By harnessing the power of business, B Lab positively impacts companies around the world, helping them balance profit with purpose, and mobilises the B Corp community towards collective action to address society’s most critical challenges.

CIIP was established as a non-profit entity by Temasek Trust, the philanthropic arm of Temasek, and advances impact investing and practices through building knowledge assets, convening stakeholders and catalysing collective positive actions. CIIP is the Asia anchor partner of SDG Impact, the United Nations Development Programme initiative tasked to develop resources that accelerate investments towards achieving the Sustainable Development Goals.

Based in Singapore, the Centre will focus on supporting the growth of purpose-driven, responsible, and resilient businesses in Asia with training and professional accreditation programmes using B Lab Global’s standards for B Corp Certification, as well as developing research and sharing insights on stakeholder-focused business models, including B Corp practices, for Asian companies.

“The economy across Asia is a significant contributor to the global economy; it is shaping the next phase of globalisation. We want to use this momentum to further catalyse the movement of business as a force for good,” said Eleanor Allen, Lead Executive at B Lab Global. “Working with our country partners in the region, B Lab Global is excited to begin this partnership with CIIP to expand the reach of our globally applicable standards, strengthen our economic systems change work whilst supporting the growth of B Corps across Asia, and provide education and training for all businesses.”