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GLOBAL RENEWABLES ONLINE - JANUARY 2012
problems. Business is the most
powerful force on the planet and
can be a positive instrument for
change.”
The B Corp vision: “to create a
new sector of the economy that uses
the power of business to solve social
and environmental problems. This
sector will be comprised of a new
type of corporation - the B Corpora-
tion - that meets rigorous and
independent standards of social and
environmental performance, ac-
countability, and transparency. As a
result, individuals will have greater
economic opportunity, society will
move closer to achieving a positive
environmental footprint, more
people will be employed in great
places to work, and we will have
built stronger communities at home
and across the world.”
HOW TO GET CERTIFIED
The legal structure of B Corpora-
tions expands corporate account-
ability. This means that these
business must make decisions that
are good for all stakeholders, not
just shareholders.
“B Corporations’ performance
standards enable consumers to
support businesses that align with
their values, investors to drive
capital to higher impact invest-
ments, and governments and
multinational corporations to imple-
ment sustainable procurement
policies.”
How is a company certified? First,
the company must earn a minimum
score of 80 (out of 200 available
points) on the B Impact Assessment,
provided by the B Lab. This
represents the benchmarks for
social and environmental impact for
good companies. B Corporations
must then adopt the assigned legal
framework in order to integrate the
mission of the company (incorporat-
ing the value system) into its legal
“DNA”. The company also signs a
Term Sheet and Declaration of
Interdependence to make the
certification official, and every two
years 20 per cent of B Corporations
are selected for random review.
WHAT DOES IT MEAN TO BE A
CERTIFIED B CORPORATION?
Certified B Corporations are
corporations that use the power of
business to solve social and
environmental problems. B Lab, a
non-profit organization, certifies B
Corporations, the same way
TransFair certifies Fair Trade coffee
or USGBC certifies LEED buildings.
Unlike traditional businesses, B
Corps: Meet comprehensive and
transparent social and environmen-
tal performance standards; Meet
higher legal accountability stan-
dards; and build business constitu-
ency for public policies that support
sustainable business.
Currently, there are over 450
Certified B Corporations across 60
different industries—this is a
remarkable amount of growth
considering the concept is relatively
new. Becoming a B Corp is becom-
ing important. According to the
bcorporation.net website, “From
food and apparel for you and your
family to attorneys and office
supplies for your business, B
Corporations are a diverse commu-
nity with one unifying goal: to
redefine success in business.”
Transparency is a key element for
B Corporations. Once a company is
certified, anyone can access
performance data about the social
and environmental practices that
stand behind their products.
Joyce
Sou,
Manager,
B
Corporation and Social Impact
Metrics at the MaRS Centre for
Impact Investing, told GRO that
everything that happens when a
company becomes B Certified has a
positive impact on the future new
economy. “The most important part
of the new economy is that it is
stakeholder driven, and not share-
holder driven,” she says. “the differ-
ence between any other business
legislation and B Corporation
legislation (which is only imple-
mented in areas in the U.S. cur-
rently and not in Canada yet), is that
it really provides added benefits to
society. A B Corporation doesn’t
count profit as its number one
priority. The funny thing is that CSR
didn’t exist 30 years ago—now you
are considered irrelevant if you are
not accountable.”
SUPPORTING B CORPS MEANS A
BETTER WORLD
GRO is exploring B Corps to find
out why it is important to support
them, and the reasons are many.
From the bcorporation.net website:
“When you support a B Corpora-
tion, you’re supporting a better way
to do business. Governments and
nonprofits are necessary but insuf-
ficient to solve today’s most pressing
SUSTAINABLE BUSINESS SPOTLIGHT - BCORP