B Corp 101

I first heard about B Corps and B Lab about ten years ago. The idea is that a corporation can do well while being a force for good. I expected to read a lot more about these companies, but then again, I haven't heard a lot about LEEDS buildings, another great innovation, either. I decided to take a closer look at both, starting with B Corps, because I wonder if my KidWrite! could be one.

B Corp Certification

B Corps are businesses that are certified by B Lab. To receive certification, applicants must meet set standards. B Lab was founded in 2006, and these standards have evolved over time.

B Corp Certification Standards

There are three parts to the standards.

1. B Impact Assessment - Verified score of 80%. The assessment is focused on the company's positive impact on five stakeholders: workers, community, customers, suppliers, and the environment.

2. Risk Standards - Review of potentially negative impacts due to the industry or practices.

3. Multinational Company Standards & Baseline Requirements - Companies with parent companies with annual revenues of $5B+ are designated as large companies and have added baseline requirements.

Existing B Corps

There are 8,473 B Corps with 775,695 workers in 162 industries in 97 countries. Here are three you may know in the United States:

I'm nowhere near knowing enough to determine whether B Corp Certification is in KidWrite's future.

Here's more to think about:

Find a B Corp Guide for Small Businesses