The New Class: B Corp - Does Your Business Have Superhero Status?
Do well by doing good… by collectively using the power and voice of people and companies! B Lab is the non-profit behind B Corporations, a new class of corporation required to create a positive tangible impact on society and the environment; and to meet higher standards of ethics, accountability and transparency. Similar to the coworking model and what powers its success, B Lab focuses heavily on building a community of change-makers. Once a company becomes a B Corp, they are encouraged and given resources to connect to other B corps all over the country.
B Lab - The Nonprofit Behind B Corps
B Lab is the muscle behind the B Corp movement and the legislative initiative. B Lab is dedicated to using the power of business to address the world’s most pressing challenges and support entrepreneurs who use business as a force for good.
B Lab drives systemic change through three interrelated initiatives:
- Building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing. Current corporate law makes it difficult for businesses to take employee, community, and environmental interests into consideration when making decisions.
- Accelerating the growth of the impact investing asset class through use of B Lab’s GIIRS Ratings & Analytics by institutional investors.
- Promoting legislation creating a new corporate form that meets higher standards of purpose, accountability and transparency.
In mid-December, a groundbreaking law was quietly approved in Albany, NY. Not even a month later the same exciting law went into effect in Sacramento, CA, with people waiting in line to sign up. So what could this new innovative law be? It is the beginning of a new era in responsible companies! Both California and New York were the first to enact a law that would include “conscious corporations” as a legal type of business. Not only will these new laws benefit the corporations who are certified, but society as a whole. This new legal structure expands corporate accountability so they are required to make decisions that are good for society, not just their shareholders. [Continue reading at Autonomie Project - Boston based B Corp]
Is your company a B Corp?
Does your business have what it takes to be certified and legally-declared good for society and good for our earth?!?
B Corporations are required to:
- Purpose: Have a corporate purpose to create a material positive impact on society and the environment
- Accountability: Expand fiduciary duty to require consideration of the interests of workers, community and the environment
- Transparency: Publicly report annually on overall social and environmental performance against a comprehensive, credible, independent, and transparent third party standard.
Some current stats on the mover-and-shaker businesses certified as B Corps:
521 B Corporations | $2.9 Billion in Revenues | 60 Industries | $2 million Annual Savings
B CORPS AROUND BOSTON!
- LEAP Organics http://leaporganics.com/
- Autonomie Project, Inc. http://www.autonomieproject.com
- Preserve http://preserveproducts.com
Social Impact Tools
- True Impact LLC http://www.true-impact.com
- CSRwire http://www.csrwire.com
- Sourcemap Inc http://www.sourcemap.com
- Trillium Asset Management http://trilliuminvest.com
- Farm Capital Services, LLC http://www.farmcapitalservices.com
- Next Street http://www.nextstreet.com
- Social(k) http://www.socialk.com
- South Mountain Company, Inc. http://www.southmountain.com
- The Green Engineer, LLP http://www.greenengineer.com
But that’s only the beginning; Meet B Corps around the country!
B Lab reminds us that communities are everywhere; shaping movements, growing ideas, and aiding in change. The results connect like-minded people, both physically and digitally, and create opportunities to reach individual and group goals more quickly and easily. In B Lab’s own words: “Who knows what opportunities may arise in the future to: share best practices, volunteer together, engage in policy advocacy, do business with each other, network our employees for inspiration and ideas.”
If that doesn’t align with Workbar’s coworking mission, then we don’t know what does! So we’re happy to host their upcoming Boston B Corp Happy Hour & Mixer right here at WorkBar. Join us on May 16th to meet the faces behind B Lab and the Boston companies leading the B Corp movement! The event is open to all B Corp employees and those interested in learning more about the B Corp community.
About the Author: Evona Niewiadomska is the Events and Digital Media Manager at Workbar. As of January 2013 she is an independent Digital Media & Design Creative with a specialty for infographic design and social media strategy. Check out her website, evonawiktoria.com or contact her via email email@example.com or twitter @evonawiktoria.