On October 4, 2017, Laureate was honored for the most impactful contributions to the B Corp movement over the last year. Laureate was named a “B Corp MVP” for 2017 by B Lab, the independent non-profit that certifies companies committed to using business as a force for good in the world. The award was presented in Toronto, Canada at B Lab’s annual Champions Retreat, which is the largest gathering of the Certified B Corporation® (B Corp) community, which now includes more than 2,200 companies. Laureate staff from the United States, Brazil, Chile, Mexico, and Spain accepted the award on behalf of the company.
In presenting the award, B Lab co-founder Andrew Kassoy said, “This year, Laureate Education chose to exercise the courage of their convictions that the conventional wisdom was wrong. They rejected the existing market paradigm of shareholder primacy. In February, Laureate completed the first ever IPO of a benefit corporation, raising nearly $500 million from institutional investors. They blew away one of the biggest impediments to building an inclusive economy. In choosing a harder path, they have created opportunity for all who follow.”
Laureate is a mission-driven company, believing in the power of education to transform lives and making enduring commitments to the communities it serves through its philosophy of being Here for Good. In 2015, Laureate took major steps to integrate this mission into its corporate structure and assess the impact of its activities. First, Laureate took advantage of a new corporate classification and converted to a Public Benefit Corporation (PBC), meaning the company is required by law to create a general public benefit through a material, positive impact on society. In the same year, Laureate also became a B Corp, undergoing a rigorous assessment to meets the highest standards of overall social and environmental performance, public transparency, and legal accountability. Laureate is the largest B Corp in the world.
In February 2017, Laureate became the first PBC to go public when the company completed its IPO. Laureate was recognized with the “B Corp MVP” award among its B Corp peers for this significant achievement and contribution towards building a more inclusive economy.