Fortune lists Starbucks as ‘world-changing’
The coffee chain was named as one of 51 companies making "a sizable impact” on major global social or environmental problems.
In its description of Starbucks, Fortune wrote, “Starbucks’ enormous reach—21,000 stores in 67 countries—hasn’t stopped the coffee giant from being intimately connected to its supply chain. Of the hundreds of millions of pounds of coffee Starbucks will buy this year, 99% will be verified as ethically sourced.”
The magazine said its goal with the new list is to "shine a spotlight on companies that have made significant progress in addressing major social problems as a part of their core business strategy."
"It is based on our belief that capitalism should be not just tolerated but celebrated for its power to do good. At a time when governments are flailing, its powers are needed more than ever."
In creating the list, editors of Fortune and FSG, a nonprofit social-impact consulting firm, reached out to business, academic, and nonprofit experts around the world to get recommendations. Fortune and a joint team from FSG and the Shared Value Initiative then vetted more than 200 nominees.
