HOBOKEN, N.J., Sept. 22, 2020 /PRNewswire/ — Pearson, the world’s learning company, today announced its inclusion on the 2020 FORTUNE “Change the World” list. FORTUNE’s annual “Change the World” list is intended to showcase the power of capitalism to improve the human condition by identifying companies that have made an important social or environmental impact through their profit-making strategy and operations.
Pearson was selected for its work offering the GED high school equivalency credential across the globe, its recent social bond that raised funds to support Connections Academy virtual schools and other programs that support disadvantaged learners, and its work to expand access to the BTEC (Business and Technology Education Council) vocational qualification certification for women in Africa.
“Pearson’s purpose is to help people make progress in their lives through learning and a key factor to achieve this is integrating a comprehensive social impact plan into our business strategy,” said John Fallon, chief executive officer, Pearson. “Each of my 22,500 colleagues across the globe share a passion for expanding education and career growth opportunities, especially in underserved communities, and I am thrilled that FORTUNE has recognized their hard work.”
FORTUNE’s annual “Change the World” list selection process begins with an open call for nominations from business, academic, and nonprofit organizations around the world. By definition, only for-profit businesses are eligible, and companies with revenues > US$1 billion are given preference. Companies are ranked on each of four criteria:
- Measurable social impact: They consider the reach, nature, and durability of the company’s impact on one or more specific societal problems. This category receives particularly close attention.
- Business results: They consider the benefit the socially impactful work brings to the company. Profitability and contribution to shareholder value outweigh benefits to the company’s reputation.
- Degree of innovation: They consider how innovative the company’s effort is relative to that of others in its industry and whether other companies have followed its example.
- Corporate Integration: They consider how integral the initiative is to a company’s overall strategy, and how well that strategy is communicated through the ranks and elsewhere.
Each year, FORTUNE looks for new companies with recent impact. The initial solicitation and assessment of nominees is conducted in partnership with the Shared Value Initiative, a global platform for organizations seeking business solutions to social challenges. A team of journalists from FORTUNE then investigates each of the candidates independently. The final list is selected and ranked by the editors of FORTUNE based on the magazine’s own reporting and analysis.
We are the world’s learning company with more than 22,500 employees operating in 70 countries. We provide content, assessment and digital services to learners, educational institutions, employers, governments and other partners globally. We are committed to helping equip learners with the skills they need to enhance their employability prospects and to succeed in the changing world of work. We believe that wherever learning flourishes so do people. Visit www.Pearson.com for more.
Contact: Scott Overland, (202) 909-4520