Dr. Michael O’Regan, Senior Academic in the Department of Sport and Event Management, was quoted on Reuters in an article entitled “Purpose over profit: are B-Corps the future of sustainable business?” In a follow up to his article in the Conversation, he was quoted as saying:
“B Corp, whilst ethical and trying to do a good thing, might attract low-hanging fruit – those already socially, environmentally responsible, or those seeking a short-cut,” said Michael O’Regan, an academic who is researching B Corps.
It therefore is not the “force for radical change” required tackle the world’s pressing problems, said O’Regan, senior lecturer at Bournemouth University.
O’Regan said this “alphabet soup” of sustainability standard setters was a distraction and called for a standardised global regime.
“ESG responsibilities have gone global,” he said. “We need global answers and more mandatory reporting and disclosure regulations.”