We know that entrepreneurs can be an incredibly powerful engine of change. But how can business be a force for good when mission-aligned companies have it so tough? Traditional corporate law makes it incredibly difficult for company management to make business decisions based on non-financial interests. Shareholders get the last say. To complicate things further, there have not been clear standards in place to differentiate a ‘good company’ from what is just good marketing. Then along came the B Corp.
The Certified B Corporation
Certified B Corps are companies that have self-assessed their business operations using B Lab’s B Impact Assessment. The assessment is a very comprehensive (and rigorous!) evaluation which looks at the company’s impact on the environment, community, its workers, and the overall governance of the business. B Corps not only meet higher standards of social and environmental performance, but they bake into the DNA of their company that they consider stakeholders in their business decisions. These companies and their performance reports are made transparent on B Lab’s website in the Business Directory.
Currently there are close to 2000 Certified B Corporations across the globe.
Stay tuned… Part II of this discussion will examine Benefit Corporations and explain the difference.
Is your company a Certified B Corp? Share your experience with us! How has it shaped your business? Have Questions? Post them in the comment box below!
If you need help with certifying your company, check out our B Corporation Certification Services.