However, this has caused confusion about B Corps vs Benefit Corporations. The benefit corporation is a legal structure for a business, which exists in 34 states across USA, Italy and Colombia. function updateform() { No, they are not the same thing. There are currently over 2,500 Certified B Corporations in more than 50 countries. As of today, there are over 2,000 Certified B Corps. It raised $430m through Nasdaq and a further $380m from private equity firms such as KKR. document.addEventListener("DOMContentLoaded", function(){ Today, there are over 1,800 certified B Corps across the world. The B Corp certification was seen as an attraction as the value of the impact focus was recognised by investors. The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high quality jobs with dignity and purpose. Certified B Corporations also amend their legal governing documents to require their board of directors to balance profit and purpose. They’re all B Corps – a global accreditation that helps tell good companies from bad. B Lab’s goal is to build “a global community of Certified B Corporations who meet that highest standards of verified, overall social and environmental performance, public transparency and legal accountability.” Yes! NPR, The New York Times, Entrepreneur Magazine, Fortune, the Atlantic Monthly and many How B Corps are changing the world | Opinion | news-graphic.com You are the owner of this article. Serving a global community of people using businesses as a force for good. "There’s a lot of negative feelings about capitalism right now,” says Kris Lin-Bronner who is the Strategic Advisor of Dr. Bronner’s. window.SGPMPopupLoader=window.SGPMPopupLoader||{ids:[],popups:{},call:function(w,d,s,l,id){ w['sgp']=w['sgp']||function(){(w['sgp'].q=w['sgp'].q||[]).push(arguments[0]);}; [CDATA[// >, For the latest news and events about the community of Certified B Corporations, © Copyright 2020 B Lab. However, there is a very good reason for that speed - taxes. Many organizations are both SEA members and certified B Corps. In many armies, a corps is a battlefield formation composed of two or more divisions, and typically commanded by a lieutenant general. They may certify as a B Corp by earning points on the B Impact Assessment either / both by directly addressing a social or environmental need as their core revenue stream; (i.e. }, 100); And it’s by no means the only way for businesses to signal their commitment to achieving social and environmental impact (there are lots of highly impactful businesses that are not B Corps). FAQ Categories: About B Corps. There are over 1,800 Certified B Corps in over 50 countries across 130 different industries. How easy is it for a B Corp to raise capital or be purchased by a larger mission led company? Our Theory of Change is that any company that is committed to creating social and environmental impact, whatever their previous activities, can consider certification. US tertiary education company Laureate was the first B Corp to go public and raise capital via an Initial Public Offering (IPO) in 2017. We cannot render legal or financial advice and your use of this site is subject to additional terms and conditions. If not, what are the differences? }}; B Lab: Fast facts. That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. I Corps; III Corps; V Corps; XVIII Airborne Corps; Former corps of the World War/Cold War/Gulf War eras. In just three short years, 19 states and the District of Columbia have enacted legislation to recognize the B-Corp. Are they the same thing? }); Each year B Lab releases lists of the Certified B Corps with scores in the top 10% of the community, broken down by size and impact area, called the Best for the World Lists. The number one baby food brand in the UK improves childrenâs lives through developing a healthy relationship with food. All rights reserved. This award-winning brewery's delicious beer is brewed with unsold loaves from bakeries and unused crusts from sandwich makers. B Corp Certification is administered by the non-profit B Lab. During World War I and World War II, due to the large scale of combat, multiple corps were combined into armies which then formed into army groups. Societyâs most challenging problems cannot be solved by government and non-profits alone. Compared to the 20-odd years it took LLC legislation to catch on, the B-Corp is absolutely blazing through the states. Certified B Corporations achieve a minimum verified score on the B Impact Assessmentâa rigorous assessment of a companyâs impact on its workers, customers, community, and environmentâand make their B Impact Report transparent on bcorporation.net. B Corps are forâprofit businesses which commit to create a material positive impact on society and the environment through their operations. “The question is how companies behave like B Corps, not whether they become B Corps.” Gilbert concedes there’s a “high danger” that corporate engagement will dilute the B Corp brand. They give 100% of profits to Feedback, an environmental charity campaigning to end food waste. B Lab will be considering how significant this is in its entire business operations, the extent to which this transition has already taken place, and whether the culture and processes are in place to ensure that this direction of travel is maintained and enhanced. First of all, letâs define B Corps. The four categories are: The Assessment asks questions to help corporate leaders understand how—and why—“to build a better business—better for your workers, community and the environment.”. A Certified B Corporation is a company that has passed B Lab’s certification process, which involves assessing and possibly changing some of its methods in regard to social and environmental performances (i.e., how it treats its employees and how it treats its garbage). Use our B Corp Directory to search by keyword, location, or industry. } document.querySelector('#uk_pardot_last_name').value = last_name; Big Issue); and / or by how they do business (such as how they support their staff, their community and whether and how they measure and seek to reduce their environmental footprint etc in their operations, e.g. Among the biggest and best known are Patagonia, Danone North America, Laureate Education, Natura (parent of The Body Shop), Kickstarter, and Ben & Jerry’s (a subsidiary of Unilever). If you doubt that one company—yours—can make a difference in the world yet still make a profit, consider this: according to the comprehensive study entitled Sustainability Pays: Studies That Prove the Business Case for Sustainability, “businesses can improve short-and long-term profitability through the adoption of sustainable practices […].". Today, there is a growing community of more than 2,300 Certified B Corps from 50 countries and over 130 industries working together toward one unifying goal: to … There are three areas in which Government could influence the shape of our economy in favour of many: Weâre different, but highly aligned and sing from the same song sheet. “B Corp is to business what USDA Organic certification is to milk.”. These are spread out in over 50 countries around the world. B Lab needs to assess whether an oil company has already put in place an alternative which creates a positive impact on the planet, such as substituting renewable energy sources for fossil fuels. How can organizations get involved beyond pursuing B Corp Certification? Use our B Corp Directory to search by keyword, location, or industry. document.querySelector('#bcorp-mailing-list-uk-form').submit(); Benefit corporations and Certified B Corporations are often confused. clearInterval(checkExist); Deanna Pogorelc | Jun 15, 2018 The B Corp movement is going strong; more than 2,500 companies in 50 countries to date have been certified against rigorous standards of social and environmental performance, accountability and transparency in their business. There are over 1,800 Certified B Corps in over 50 countries across 130 different industries. Certified B Corps are a new kind of business that balances purpose and profit. By harnessing the power of business, B Corps use profits and growth as a means to a greater end: positive impact for their employees, communities, and the environment. Average year-on-year growth across the 150 UK businesses signed up to B Corp, a global network of sustainable companies, was 14% in the past year compared with 0.5% growth in GDP at the start of 2018. B Corps are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. How many Certified B Corps are there around the world? Samantha Nielsen, 2020 Student Entrepreneur Scholarship Winner, Best States for Business, Ranked by Lawyers, Keep Your Communications Contact Details Current, Delaware State File Number: What It Is & How It's Used, New Yorkâs Biennial Fees for Corporations and LLCs, Harvard Business Services Partners with BlueVine, In a Difficult Year, Harvard Business Services Reaches New Milestone, Letter from the President of Harvard Business Services, Sustainability Pays: Studies That Prove the Business Case for Sustainability, Directors are mandated to consider the company’s impact on all shareholders. B Corps are attempting to take social and environmental impact into consideration when making decisions for their business. B Lab's annual list of top-scoring Certified B Corps is rife with natural products brands. What role does the UK Government have in supporting the B Corp movement? Follow the community of Certified B Corporations. As B Corporations and leaders of this emerging economy, we believe: *Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. Multinationals are engaging the global B Economy both through B Corp Certification and other engagements with B Lab. } Have you ever thought about including a little bit more than just your articles? There are now as many as 188 B Corps in the UK – 166 of which are fully certified, with 22 Pending B Corp businesses. There are Certified B Corps in more than 50 countries around the world. through what they do - such as providing a service which tackles a particular social or environmental need e.g. All rights reserved. Learn more about the legal form in the UK. As of October 2020, there are four active Army corps. That we must be the change we seek in the world. SGPMPopupLoader.call(window,document,'script','https://popupmaker.com/assets/lib/SGPMPopup.min.js','9d7d2858'); Probably! keyboard_arrow_up. This $3 billion publicly-traded multinational cosmetics company employs more than 2 million people while producing carbon-neutral products and advocating for the Amazon. The combination of third-party validation, public transparency, and legal accountability help Certified B Corps build trust and value. B Corps have been around in the US since 2007, with brands like Ben & Jerry's and Patagonia achieving certification. Wonderful blog! Nonprofits, large multinationals, governmental organizations and companies of all sectors and sizes can join the B Economy by using B Lab's impact management and stakeholder governance tools. The values and aspirations of the B Corp community are embedded in the B Corp Declaration of Interdependence. For further details on the criteria to meet the UK social enterprise definition, including the required use of profits and asset locks, see the SEUK website. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. So whilst there may certainly be some social enterprises that also certify as B Corps, the majority of B Corps in the UK would not self-classify as social enterprises under the UK definition. }, false); 30 minutes can give you a snapshot of your company’s impact, which includes a basic summary of which things your company excels at and which it could improve upon. Publicly-traded companies have also achieved B Corp Certification, such as Natura. The difference lies in the legally binding nature of their commitment. © Copyright 1996-2020. More than 2,000 B Corps in 50-plus countries—and they’re all making the world a better place. These B Corps, designated by the B Lab, are a growing force that count many financial institutions and household brands as members. To date, our community includes over 3,500 B Corps in 70 countries and 150 industries, over 8,000 benefit corporations, and more than 100,000 companies manage their impact with the B Impact Assessment … A Certified B Corp is a for-profit corporation that has been certified by B Lab, which is a non-profit company that measures a company’s social and environmental performance against the standards in the online B Impact Assessment. A Certified B Corporations in 42 how many b corps are there, and typically commanded by larger. Movement of people using businesses as a force for good in Europe and number! Any business can become a B Corp Certification and other engagements with B Lab 's Pennsylvania, York..., which exists in 34 states across USA, Italy and Colombia Corps creating! 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