The Portuguese non-profit, B-Lab Portugal and Lusophone Africa, is working to advance the BCorp model in Portugal. BCorps are 'for-profit companies certified to meet rigorous standards of social and environmental performance, accountability, and transparency'. Over 2200 BCorps currently exist in over 50 countries, in a multitude of sectors.
In a relatively small country such as Portugal, more active involvement by the corporate sector in social and environmental issues could have an outsized impact on ongoing concerns being addressed by the state and the third sector.
The European BCorp Summer Summit was held in Cascais, Portugal in June 2017, with the theme ‘Interdependence as a force for good’.
There are currently 14 BCorps in Portugal, including Hovione, its largest, a pharmaceutical company that aspires 'to use the power of markets to solve social and environmental problems'. It can also serve as a model for larger and multinational Portuguese companies to follow suit.