Certified B Corporation
B Corp (short for Certified B Corporation) is the term used for any for-profit entity that is certified by the nonprofit B Lab as voluntarily meeting higher standards of transparency, accountability, and performance.
How many companies are B Corps?
3,500 Certified B Corporations
How many Certified B Corps are there around the world? There are currently over 3,500 Certified B Corporations in more than 70 countries.
What kind of company is B?
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.
What is B Corp example?
Examples of large companies that have achieved B Corp Certification include Laureate, KeHE, and Natura….Examples of large companies with Certified B Corp subsidiaries:
- Unilever: Ben & Jerry’s and Seventh Generation.
- Danone: Happy Family.
- Proctor & Gamble: New Chapter.
Is B Corp worth it?
Becoming a B Corp can have obvious benefits; like a positive impact on brand equity and greater recruitment appeal, but there are also some less obvious ones. It can drive performance – in a B Lab & Ella’s Kitchen survey UK B Corps reported an average growth rate significantly higher than the national average.
Is B Corp legit?
While B Corp claims that certification balances the interests of shareholders with the interests of workers, customers, communities and the environment, B Corp standards are not legally enforceable. Certification is initially self-assessed, and doesn’t override the profit-driven focus of the company.
Why are B Corps important?
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. B Corps form a community of leaders and drive a global movement of people using business as a force for good.
Do B Corps receive special tax treatment?
Does being a benefit corporation affect a company’s tax status? It doesn’t. A company still elects to be taxed as a C or S corp. Benefit corporation status only affects requirements of corporate purpose, accountability, and transparency; everything else regarding corporation laws and tax law remains the same.
What makes a Certified B Corporation a B Corporation?
Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
Are there any publicly traded companies that are B Corps?
Publicly-traded companies have also achieved B Corp Certification, such as Natura. Many other Certified B Corps are subsidiaries of publicly-traded companies, such as Ben & Jerry’s and Sundial Brands (owned by Unilever) and New Chapter (owned by Proctor & Gamble).
What are the values of a B Corp?
B Corps form a community of leaders and drive a global movement of people using business as a force for good. The values and aspirations of the B Corp community are embedded in the B Corp Declaration of Interdependence.
How does a benefit corporation differ from a C corporation?
Benefit corporations may not differ much from traditional C corporations. A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. A business may choose to file as a benefit corporation instead of a traditional C corporation for many reasons.
