Using business as a force for good They are evolving much like the LLC evolved - gradually across the United States. The popular employee-owned brewery that diverts 99.9 percent of its waste from landfills has grown to the third-largest craft brewery in the U.S. 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 and the SDG Action Manager. The B Corp certification logo will eventually appear on all Tillamook brand packaging so consumers throughout the country know what the Tillamook brand stands for. [15] Socially and environmentally-focused business model points ultimately are accrued in their relevant impact area (governance, workers, community or environment). Learn more about the Challenge, what participating B Corps have already accomplished, and how to join them. [27], social and environmental certification of for-profit companies, Verification and transparency requirements. I provide process shepherding and bandwidth to get your B Corp certification, recertification and continuous improvement needs accomplished. Certain other partnerships filing … News & Notices, Customer Alerts and Processing Times. [1] Companies must re-certify every three years to retain B Corporation status. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. To obtain a B Corporation certification, a company first completes an online assessment. Learn more about the difference. To be granted and to maintain certification, companies must receive a minimum score from an assessment of "social and environmental performance", integrate B Corp commitments to stakeholders into company governing documents, and pay an annual fee based on annual sales. Certified B Corporations are leaders of a global movement of people using business as a force for good. UpCounsel accepts only the top 5 percent of lawyers to its site. The standards for B Corp Certification are overseen by B Lab's independent Standards Advisory Council. A Tool to Help B Corps Achieve the SDGs and Address Global Issues. As of April 2020[update] there are over 3,300 certified B Corporations across 150 industries in 71 countries.[2]. In order to become a B Corp, your organization has to get score of at … Certified B Corporations also amend their legal governing documents to require their board of directors to balance profit and purpose. [18] The council recommends improvements to the B Corp assessment on a biennial basis. B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk. B Corporation status can be achieved by receiving accreditation from B Lab (a non-profit organisation). B Corps form a community of leaders and drive a global movement of people using business as a force for good. The B Impact Assessment evaluates how your company’s operations and business model impact your workers, community, environment, and customers. Below, I've rounded up a few of the B Corps we love shopping at most, including Patagonia , Allbirds , and Eileen Fisher . [2] The most active community outside of the United States is Sistema B. Serving a global community of people using businesses as a force for good. This includes meeting a certain score on the B Impact Assessment, which measures a company’s impact on its workers, community, and environment. The term “B Corp” is often used interchangeably to refer to both benefit corporations and Certified B Corporations, but these are actually distinct. Inc. called B Corp status “the highest standard for socially responsible businesses”. [16] As of May 2014, 28 of 30 members were listed by their business affiliation. B Corporation (also B Lab or B Corp) certification of "social and environmental performance" is a private certification of for-profit companies, distinct from the legal designation as a Benefit corporation. - Rose Marcario, CEO, Patagonia Works The B Corp community reflects the world's business landscape, ranging from sole proprietors to publicly-traded companies. For general inquiries, contact the U. S. Steel Operator. Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. In 2006, three friends left careers in business and private equity and created an organization dedicated to making it easier for mission-driven companies to protect and improve their positive impact over time. Certifying as a B Corporation goes beyond product- or service-level certification. The benefit corporation is a legal structure for a business, like an LLC or a corporation. Find the latest United States Steel Corporation (X) stock quote, history, news and other vital information to help you with your stock trading and investing. New research from B Corp, a network of purpose-driven companies using business as a force for good, has revealed that certified B Corps in the UK are growing 28 times faster than the national economic growth of 0.5 percent. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. Helpful Hint: If you are not able to locate an entity record, you may wish to try a broader search by searching for fewer keywords or a "begins with" search if you know one or more of the first words of the entity's name, or you may request a more extensive search by ordering a status report. B-Corp is a certification that shows the world what your company stands for. An issue in deciding to be a Certified B Corporation would be the administrative and legal costs a corporation will face in changing their business model in accordance to B Labs regulations. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. The majority of the 3,500+ B Corps are small businesses. For instance, companies with more employees will have a heavier weighting in the workers category, and companies in manufacturing will have a heavier weighting in the environment category. Yes! Right now, hundreds of B Corps are taking part in the Inclusive Economy Challenge by setting yearly goals for impact improvement. That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all. B Corps aspire to use the power of business to solve social and environmental problem. However, the certification brings a multitude of branding tools to the corporation. A Tool to Help B Corps Achieve the SDGs and Address Global Issues. GET STARTED. [20] Beyond the corporate model, other for-profit business entities make an amendment of the company by-laws or governing documents. The initial step is to complete an on-line assessment (B Impact Assessment). B Corp Certification isn't a perfect fit for every organization. To B Corps, sustainable business isn't charity, it's better business. Ben & Jerry’s has always believed in linked prosperity - that all stakeholders connected to the business should prosper as it prospers, from those who produce the ingredients, to employees who make the product, to the communities in which the company operates. Some states known as "constituency" states will allow for this change in the articles of incorporation, other states, known as "non-constituency states", will not; and many states now have the option of adopting the benefit corporation legal structure, which also meets B Lab's requirements for B Corp certification. You can search for open positions at B Corporations using B Work, the world's largest impact jobs board. By Jeremy Chen. In addition a B Corp must pay an annual fee based on revenues, biannually complete a B Impact Report (a lengthy questionnaire that measures social and environmental impact), meet B-Lab’s comprehensive social and environmental performance standards and make that B Impact Report public, in order to receive the certification from B Lab. B Corp certification is conferred by B Lab, a global nonprofitorganization with offices in the United States, Europe, Canada, Australia, New Zealand and a partnership in Latin America with Sistema B. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. In order to obtain and maintain a B Corporation certification, B Lab charges annual administrative and legal fee depending on the revenue generated by the respective companies. A leader in economic systems change, our global network creates standards, policies, and tools for business, and we certify companies—known as B Corps—who are leading the way. Corner Growth Acquisition Corp. (Corner Growth Acquisition Corp.) is a Blank Check Company located in Palo Alto, CA United States, North America. B Corps are a new type of corporation which uses the power of business to solve social and environmental problems. Benefit corporation is a legal status conferred by state law in the US; B Lab certification is issued by a non-profit organization and has no legislative framework. This was a determination made by the Secretary of State's Office, so please ensure your counsel reaches out to the Secretary of State before making the transition to benefit corp status. [4] To add on, many C corporations usually adapt the B Corporation Certificate to gain goodwill.[5]. How can organizations get involved beyond pursuing B Corp Certification? ", https://en.wikipedia.org/w/index.php?title=B_Corporation_(certification)&oldid=994749012, Short description is different from Wikidata, Articles containing potentially dated statements from April 2020, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License. Golden Falcon Acquisition Corp. (Golden Falcon Acquisition Corp.) is a Blank Check Company located in Newark, DE United States, North America. Numerous companies claim to be “going green” or “supporting the environment” through different accreditation that may or may not be real. [26] This non-profit adapts proprietary certifications and evaluation metrics and modifies both to the context of each country. It demonstrates to the world around you – your stakeholders, your employees, your customers, and everyone else – that you’re committed to being a … Phone: (412) 433-1121. B Corp Certification is administered by Standards Analysts at the non-profit B Lab. Check out the 2019 Best for the World honorees! S corporations … At the recent launch of B Lab UK, B Lab established a Multinationals and Public Markets Advisory Council (MPMAC) to address a number of systemic, institutional and practical barriers that have made it hard for multinational private and publicly listed companies to earn B Corp Certification and to adopt benefit corporation status. Athleta is a Certified B Corp. We use business as a force for good. Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. Posted on November 13, 2017 November 20, 2017 Leave a comment. Used by many Allied air forces, the B-25 served in every theater of World War II, and after the war ended, many remained in service, operating across four decades.. The B Corp certification logo will eventually appear on all Tillamook brand packaging so consumers throughout the country know what the Tillamook brand stands for. The combination of third-party validation, public transparency, and legal accountability help Certified B Corps build trust and value. 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. Solar States is a certified B-Corporation founded in 2008 based on the ideas found in Van Jones’ book, “The Green Collar Economy”. B Lab certification applies to the whole company across all product lines and issue areas. Certification also requires companies to integrate their stakeholder commitments into the company governing documents. 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. B Corps are businesses that act in ways that benefit society as a whole. We are the on ramp for inner city residents looking to find jobs in the solar industry. It is not easy to get and this is what makes it so meaningful. Created by the Corporate Flexibility Act of 2011, the California Benefit Corporation is a corporate form specifically designed for social enterprises to pursue both for-profit and non-profit objectives. Maryland was the first state to pass benefit corporation legislation in April 2010, followed by Hawaii, Virginia, California, Vermont, and New Jersey. 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. The SDG Action Manager Helps Businesses Create and … We envision a global economy that uses business as a force for good. What's the difference between a Certified B Corp and a benefit corporation? To be granted and to maintain certification, companies must receive a minimum score from an assessment of "social and en… Add to your site in minutes! Multinationals are engaging the global B Economy both through B Corp Certification and other engagements with B Lab. All rights reserved. Follow the community of Certified B Corporations. Why B Corps Matter Of course, becoming a B Corp is no guarantee of commercial or impact success. That we must be the change we seek in the world. Track individual visitors using your website in real-time. B Corporations are said to base business decisions on their impact on people and the planet. And increasingly that’s what people care most about. The majority of the 3,500+ B Corps are small businesses. The company needs to adhere their corporate legal structure to B-Lab regulation in order to qualify for the certification process. B Corp status is a certification process from a third-party business that recognizes the company’s commitment to certain sustainable practices. We do the heavy lifting in developing & formalizing your social and environmental performance. Stant USA Corp. has 1457 total employees across all of its locations and generates $377.24 million in sales (USD). The bakery that supplies Ben & Jerry's with brownies opens its hiring to anyone, supporting community members returning from incarceration with a workforce development and mentorship programs. The B Corp movement is one of the most important of our lifetime, built on the simple fact that business impacts and serves more than just shareholders -- it has an equal responsibility to the community and to the planet. What companies have the highest scores on the B Impact Assessment? In states with such laws, they need to apply within two years of becoming B Corps. Legislation for the passage of this corporate legal status has been passed in 35 states, including, The establishment of clear wording to "consider stakeholder interests" in company. B-Corporations are not available in every state, yet. B Corps and Benefit Corporations are distinct terms that are often used interchangeably, but there are clear differences. B Lab also assists Sistema B in incorporating a benefit corporation distinction into local legal systems. This is your complete guide to the performance, legal, and transparency requirements to become a Certified B Corp. Once companies meet all below requirements, they pay an annual Certification fee. Use our B Corp Directory to search by keyword, location, or industry. [25] Since 2012, Sistema B has been the adaptation of the B Corps movement in Latin America, including in Argentina, Brazil, Chile, Uruguay and Colombia. You can find a full list of Certified B Corps at http://bcorporation.net . Benefit Corporation in Colorado may require you to register under the Colorado Charitable Solicitations Act. This is a community of leaders, driving a global movement of … Kickstarter, Farmigo, King Arthur Flour, Klean Kanteen, Greyston Bakery, and Sun Light & Power are some examples of Certified B Corporations that have met their legal requirement for certification by using the benefit corporation structure. On completing the assessment, companies are required to meet certain transparency requirements and background checks to become Certified B Corp(s). [17] B Lab has an established standards advisory council that can independently make decisions with or without the support of B Lab. B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment. Today, 2,500 companies have certified as B Corps and 5,000 entrepreneurs have incorporated their U.S. ventures as Benefit Corporations across 37 states, Washington D.C., and Puerto Rico. What is the average size of a Certified B Corp? This Indigenous-owned web services company works with leading organizations to create better social and economic outcomes for Indigenous communities. Certified B Corporations achieve a minimum verified score on the B Impact Assessment—a rigorous assessment of a company’s impact on its workers, customers, community, and environment—and make their B Impact Report transparent on bcorporation.net. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. Learn about our values and how we are progressing towards our 2020 goals. Many of our clients approach us with some variation of “We want to be a B Corp.” What does that mean exactly? For the latest news and events about the community of Certified B Corporations, © Copyright 2020 B Lab. B Corps that are incorporated in states that have passed benefit-corporation legislation must reincorporate within a specified period of time after the legislation is passed — four years in Delaware, where more than half of all U.S. public companies are registered. The values and aspirations of the B Corp community are embedded in the B Corp Declaration of Interdependence. You must have JavaScript enabled to use this form. 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