In response to the negative impacts of traditional business practices, corporations are evolving to re-define their financial and societal operations. Similar to the manner by which buildings are LEED certified by the U.S. Green Building Council – more and more business are achieving ?B-Corp? status through a non-profit organization known as B lab which was established in 2007.
Companies such as Etsy, Seventh Generation, and Patagonia are among nearly a thousand companies to pursue the certification. Traditionally, the corporate business model has been wholly profit-driven, led by stockholders who are minimally concerned with a company’s social or environmental standings. The B-corp certification creates a fundamental shift in a company’s approach to attaining profits while balancing and incorporating their sustainability objectives.
B-Corps therefore have a broader, less traditional approach to their business strategies – and allow a public disclosure of promise to sustainable principles and practices. Numerous studies have indicated that consumers are driven to purchase from companies with a firm social responsibility as well as sensible environmental standards.
This pursuit of a triple bottom line structure is catching on in numerous industries and companies both large and small, in 33 countries around the world. B-corp industries include manufacturing, food and beverage production, personal services, retail, and more.
B corporations fundamentally believe in:
- Investing in Communities
- Environmental Stewardship and standards (LEED certifications, sustainable, supply-chains, cost inputs, and responsible manufacturing practices)
- Benefiting the Consumer