B Corp - A Better Way
It’s time for a better way to do business, but how do you tell the difference between a good company and just good marketing?
Certified B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems. B Corps, unlike traditional businesses, meets rigorous and independent standards of social and environmental performance, accountability, and transparency. They are certified by B Lab, a nonprofit organization, the same way TransFair certifies Fair Trade coffee or USGBC certifies green buildings. Through a company’s B Impact Assessment, anyone can access performance data about the social and environmental practices that stand behind their products.
So why does any of this matter? When you support a B Corporation, you’re supporting a better way to do business. Governments and nonprofits are necessary but insufficient to solve today’s most pressing problems. Business is the most powerful force on the planet and can be a positive instrument for change.
B Lab’s vision is simple yet ambitious: to create a new sector of the economy which uses the power of business to improve our world. This sector will be comprised of a new type of corporation - the B Corporation. As a result, individuals will have greater economic opportunity, society will move closer to achieving a positive environmental footprint, more people will be employed in great places to work, and we will have built stronger communities at home and across the world.
B Corporations address two critical problems:
1. Current corporate law makes it difficult for businesses to take employee, community, and environmental interests into consideration when making decisions
2. The lack of transparent standards makes it difficult to tell the difference between a ‘good company’ and just good marketing
To address these issues, B Corporations’ legal structure expands corporate accountability so they are required to make decisions that are good for society, not just their shareholders. B Corporations’ performance standards enable consumers to support businesses that align with their values, investors to drive capital to higher impact investments, and governments and multinational corporations to implement sustainable procurement policies.
Today there are over 420 Certified B Corporations across 60 different industries. New Leaf Paper is a Founding B Corporation and a leader in the space. From hundred million dollar companies to start-ups, B Corporations form a diverse community with one unifying goal: to create social and environmental change. Join the movement for a better way to do business and support B Corps.
To find a B Corporation and learn more, visit www.bcorporation.net.
Written by Katie Kerr, responsible for Core Team communications at B Lab.
