B Corporation Certification / Benefit Corporations / Business / Certifying Organizations

B Lab

Organization Descriptions

In Brief

2006, Wayne PA; annual “Best for the World” awards for B Corps

Description

(2006, Wayne PA; www.bcorporation.net)

A non-profit organization that awards B Corporation Certification to for-profit organizations. The ‘B’ stands for beneficial and indicates that the certified organization voluntarily meets certain standards of transparency, accountability, sustainability, and performance, with an aim to create value for society, not just for shareholders.”  As of July 2016, there are 1,824 “B Corps” in 50 countries, representing 130 Industries.  The B Lab has produced a model of legislation passed in 26 states, to create a new type of corporation—the benefit corporation—that best meets the needs of entrepreneurs and investors seeking to use “business as a force for good.”  Its B Analytics, available for a fee, “hosts the world’s largest database of verified social & environmental performance data for private companies (1100+ companies). It is also the exclusive source of impact data on Certified B Corporations and GIIRS Rated companies and funds.”  Any business can apply online to become a B Corp.  Case studies (e.g., Patagonia, Ben & Jerry’s), videos, blogs, self-assessment instruments, annual reports and other resources populate the website.  Significant funding from foundations like Rockefeller ($2.5-5M).  Several international offices; 43 Staff.

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