"have an expanded purpose beyond maximizing share value to explicitly include general and specific public benefit"
are required to consider the impact of their decisions not only on shareholders but also on workers, community, and the environment; and
are required to make available to the public an annual benefit report that assesses their overall social and environmental performance against a third party standard.
A Certified B Corporation is a certification conferred by the nonprofit B Lab.
“Certified B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems.
B Corps are unlike traditional businesses because they meet comprehensive and transparent social and environmental performance standards, meet higher legal accountability standard and build business constituency for good business.” (B Lab: About B Corps.)
A Social Business:is a cause driven business
"In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point...Sustainability of the company indicates that it is running as a business.
The objective of the company is to achieve social goal/s."
B Lab is a nonprofit organization committed to helping "businesses, investors, and institutions Measure What Matters, by using the B Impact Assessment and B Analytics to manage their impact." B Lab provides certification to corporations seeking B status
Corporate Responsibility Magazine (CR Magazine) announced today its 20th annual 100 Best Corporate Citizens ranking, recognizing outstanding environmental, social and governance (ESG) transparency and performance amongst the 1,000 largest U.S. public companies.
Youtube video - In this webinar learn about B Corporations—why they exist, and how they are leading a movement to redefine success in business. This session provides an overview of how to become a B Corp as well as how companies leverage the certification to support their business goals.