B-Corp is an organisation that 'envisions a global economy that uses business as a force for good'. A new type of corporation – the B Corporation – is purpose-driven and creates benefit for all stakeholders, not just shareholders.
As leaders of this emerging economy, they believe:
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That they must be the change we seek in the world.
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That all business ought to be conducted as if people and place mattered.
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That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
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To do so requires that they act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
For a business to receive B Corp Certification it must meet high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials. In order to achieve certification, a company must:
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Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing the B-Corp risk review. Multinational corporations must also meet baseline requirement standards.
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Make a legal commitment by changing their corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in their jurisdiction.
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Exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.
Shop B-Corp Certified brands here
