what is a certified b corporation

what is a certified b corporation

1 year ago 53
Nature

A Certified B Corporation is a for-profit corporation that has been certified by B Lab, a global nonprofit organization, for its social and environmental impact). B Corp certification is conferred by B Lab, which assesses a companys impact in key areas, including Governance, Workers, Community, Environment, and Customers. To achieve certification, a company must meet high standards of verified performance, accountability, and transparency on factors ranging from employee benefits and charitable giving to supply chain practices and input materials. The certification process is rigorous and requires engaging teams and departments across the company. The B Corp certification standard operates under principles that are independent, comprehensive, comparable, dynamic, and transparent). Companies are required to re-certify every three years).

B Corps are mission-driven companies that balance purpose and profit. They use their profits and growth to positively impact their stakeholders and the planet. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy. B Labs goal is to build "a global community of Certified B Corporations who meet the highest standards of verified, overall social and environmental performance, public transparency, and legal accountability".

To become a Certified B Corporation, a company must meet stringent requirements, including completing a comprehensive assessment of its impacts on all stakeholders and having its assessment verified by B Lab. The company must disclose any controversial operations to B Lab and commit to transparent and public disclosure of its performance. There are five significant conditions to becoming a Certified B Corporation, including meeting high standards of verified performance, accountability, and transparency.

In summary, a Certified B Corporation is a for-profit corporation that has been certified by B Lab for its social and environmental impact. The certification process is rigorous and requires companies to meet high standards of verified performance, accountability, and transparency. B Corps are mission-driven companies that balance purpose and profit and use their profits and growth to positively impact their stakeholders and the planet.

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