Sir Richard Branson, founder of the Virgin Groups and co-founder of The B Team, explained the idea behind it—to encourage businesses to think beyond simple profit, and to consider environmental issues and human rights as part of their work.

Arianna Huffington, founder of the online news site The Huffington Post and a leader with the project, told BBC News that there was an opportunity for businesses to "step up to the plate and make a difference."

To watch the interview on BBC World click here.