What is the average B Corp score?
Overall B Impact Score. Based on the B Impact assessment, Advanced Metrics earned an overall score of 97.6. The median score for ordinary businesses who complete the assessment is currently 50.9.
Disadvantages: There are annual administrative and legal costs associated with obtaining and maintaining B certification. There also may be a heightened level of scrutiny from activists and shareholders, who may be hypercritical when assessing the organization.
In order to achieve certification, a company must: Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing our risk review. Multinational corporations must also meet baseline requirement standards.
To achieve the B Corp Certification, a company must achieve a score of at least 80 points on the assessment. "Best for the World is a special program for the B Corp community, and we're thrilled to resume it after pausing the program in 2020 due to COVID-19," said Juan Pablo Larenas, Executive Director of B Lab Global.
| Rank | Company Name | Annual search volume |
|---|---|---|
| 1 | Moodle Pty Ltd | 53,550,000 |
| 2 | Coursera | 35,930,000 |
| 3 | TOMS | 14,920,000 |
| 4 | Redbox | 14,480,000 |
Represented: Which industry has the most B Corps? The Food & Drink industry boasts the highest number of certified businesses of any sector, with companies like socially-conscious ice cream giants Ben & Jerry's accounting for 12.4% of all B Corps.
A B Corp may be a limited liability company, partnership, sole proprietorship, etc. For B Corp certification, a business must score at least 80 out of 200 points on the B Impact Assessment, which is the tool used by B Lab to assess the business's impact on it workers, community, environment, and customers.
Though there are no tax benefits for B Corp certified companies, the status does often improve a company's perceived value. It can also attract potential customers, if the company includes the designation in its marketing.
A minimum score of 80 points across these impact factors is required to maintain certification. Companies achieving scores of less than 80, as assessed by B Lab, lose their certification.
- Take and pass the B Impact Ratings System. ...
- A telephone interview with a B Lab staff member that reviews the findings of the B Impact Ratings System. ...
- Start adopting the B Corporation Legal Framework within your company.
- Complete and sign a Term Sheet that makes your certification official.
How much does B Corp certification cost?
Cost: Benefit corporations necessitate between $70 and $200 in state filing fees; B Lab certification fees range from $500 to $50,000, based on company revenues.
As of 2021, there are over 4,000 Certified B Corporations in 77 countries that are spread over 150 industries.
Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment.
The B in B Corp is open to interpretation. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people.
B Corps are for profit companies that meet the highest standards of social and environmental performance, transparency, and accountability. B Corps use the power of business to do more than seek profit. They use their profits and growth to positively impact their stakeholders — and the planet.
Well, there's a difference between Nike using recycled materials to create its attire and Nike becoming a Certified B Corporation or Benefit Corporation. Namely, in the second case the company is held to higher standards of accountability and transparency.
What is a B Corp? It's a company that uses the power of the marketplace to help solve social and environmental problems. It is to business what Fair Trade is to coffee and USDA Organic is to milk.
Starbucks would be the biggest B Corp by far if it chose to go that route. It would need to meet the standards required by the non-profit company B Lab, which officially hands out the B Corp designations. But Starbucks would not be the first publicly traded firm in this growing movement.
Though there are no tax benefits for B Corp certified companies, the status does often improve a company's perceived value. It can also attract potential customers, if the company includes the designation in its marketing.
B Corps measure their positive social and environmental impact using the B Impact Assessment. Once they receive a score of 80 or more points, their assessment is verified by our independent analysts. To retain their certification, B Corps must resubmit an assessment every three years.
Do B Corps get tax breaks?
Being classified as a benefit corporation isn't the right move for every business. If you think you might get a tax break for being environmental conscience, you'd be mistaken. B corps have to pay the same amount of taxes as other for-profit businesses.
As of 2021, there are over 4,000 Certified B Corporations in 77 countries that are spread over 150 industries.
