Laureate Education, Inc. Announces Renewal of Certified B Corporation® Status
BALTIMORE, MARYLAND – January 22, 2018 – Today, Laureate Education, Inc. (NASDAQ: LAUR) announced that its corporate division and global network of nearly 70 higher education institutions were recertified as a Certified B Corporation® (B CorpTM) by the global certification non-profit B Lab®.
After a rigorous evaluation by B Lab, Laureate achieved a final score of 104, nearly 10 points higher than in 2015. Its largest area of improvement was its positive impact on students, increasing 25% since 2015.
This achievement solidifies Laureate’s position as a global leader among the growing business community that recognizes the need to be focused on the triple bottom line – economic value, social and environmental responsibility.
Laureate Education is the largest B Corp in the world, and the first Public Benefit Corporation (PBC) to go public on any stock exchange in the world. In addition, Laureate is the largest multinational to have all subsidiaries certified, and it is the first higher education company to be certified on B Lab’s Higher Education Addendum, the portion of the assessment specific to higher education institutions with a focus on an institution’s impact on its students.
“Driving social and economic impact is at the core of our business at Laureate,” said Eilif Serck-Hanssen, CEO of Laureate. “From being Here for Good, to our strong academic quality and positive employability track record for our graduates, we have demonstrated our commitment to benefiting society. We believe it is possible to transform people’s lives through education and have an enduring impact in the communities we serve, while still providing an attractive investment opportunity for shareholders.”
The 2017 recertification highlighted, among others, the following points:
- Approximately 46% of students, on average, at Laureate institutions come from traditionally underserved groups.
- Close to 81% of Laureate institutions that reported have at least 95% of their management team native to their country of operation.
- All Laureate institutions have a Corporate Citizenship Program, including donations, volunteering, pro bono services, and/or community development programs.
- 71% of institutions have an environmental management system focused on sustainability, including 86% of institutions that have adopted energy efficiency measures.
“Our goal with B Lab from its inception was to build a global movement of people using business as a force for good, and Laureate’s commitment to this mission over the years has been noteworthy,” said Jay Coen Gilbert, Co-Founder of B Lab. “They have continued to be a champion for impact on an educational, economic, and societal level, and their efforts around the world show that businesses of all sizes can do the same.”
Laureate became a PBC in October 2015, and Laureate and its network institutions became a Certified B Corporation in December 2015. Currently there over 2,300 certified B Corps globally; other companies in this space include Ben & Jerry’s, Warby Parker, and Patagonia. Approximately 5,000 companies are legally registered as PBCs; Laureate is joined by Patagonia and DanoneWave, among others, in the PBC community.