How many B Corporations are in the US?
The B Corp community is now 5,000 businesses strong.
More than 1,900 B Corps in the U.S. & Canada
Whether multinational, small, or somewhere in between, all B Corps share a common mission: use business as a force for good.
Today, more than 4,000 companies have successfully certified as B Corps, including household names like Ben & Jerry's, Danone, Allbirds and Patagonia.
Though they've grown into a global movement, the majority of B Corps are still overwhelmingly American. Indeed, 13,346 (37.2%) of the world's certified companies are based in the United States, with big brands like Patagonia and Ben & Jerry's flying the flag.
The United States of America comes out on top with 1,418 total certified B Corp businesses trading there, with the most popular American green organisation being Coursera, featuring as the second most searched for in the whole world.
With $6 billion in sales, in 2018 Danone NA became the largest Certified B Corp in the world by a factor of two. The certification of this massive entity created many strategic and logistical challenges for both Danone and B Lab, the non-profit that certifies B Corps.
The B Impact Assessment is intentionally rigorous and aspirational. The average score of ordinary businesses in the BIA is 51 points and many companies, in fact, don't receive the required 80 points their first time around.
- Wisconsin.
- Texas.
- Ohio.
- North Carolina.
- New Mexico.
- Montana.
- Michigan.
- Kentucky.
B Corp (short for Certified B Corporation) is the term used for any for-profit entity that is certified by the nonprofit B Lab as voluntarily meeting higher standards of transparency, accountability, and performance.
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.
Is Amazon a certified B Corporation?
“We are part of a community of certified B Corporations who are walking the walk of stakeholder capitalism,” said the open letter. “We are successful businesses that meet the highest standards of verified positive impact for our workers, customers, suppliers, communities and the environment.”
The main purpose of a B Corporation is to promote social and environmental change through positive business practices. B Corps work to reduce inequality, lower poverty levels, create more sustainability for our environment, and build stronger communities.
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.
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.
If your business is a start up with under 12 months of operations, you're eligible to become a Pending B Corp. Pending B Corp is a great way to communicate the mission of your company, engage in the B Corp Community and put in place a framework for impact improvement.
Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
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.
More than 100,000 businesses have signed up for the B Corp Impact Assessment since its launch in 2006, but only 3,500 companies—brands like Ben & Jerrys, Warby Parker, Patagonia, the Guardian, Kickstarter, and AllBirds, along with Lemonade—are certified B Corps.
Ben & Jerry's Joins the B Corp Movement! We are a certified B Corporation, which is recognized as the highest standard for social corporate responsibility. B Corps are a new type of corporation that uses the power of business to solve social and environmental problems.
Impact Business Models or IBM's in the B Corporation assessment are considered rare, if you have one in your company then you'll likely score among the top B Corporates from around the world with 150+ or more (you only need 80 points to qualify to become a B Corporation), although just because you do have a IBM doesn't ...
Are there publicly traded B Corps?
Yes! There are many publicly-traded Certified B Corporations around the world.
The B stands for “benefit,” and refers to benefiting workers, the community and the environment. Patagonia was the first California company to sign up for B certification, in January, 2012, joining over 500 certified B Corporations in 60 different industries.
- Wisconsin.
- Texas.
- Ohio.
- North Carolina.
- New Mexico.
- Montana.
- Michigan.
- Kentucky.
“We are part of a community of certified B Corporations who are walking the walk of stakeholder capitalism,” said the open letter. “We are successful businesses that meet the highest standards of verified positive impact for our workers, customers, suppliers, communities and the environment.”
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.
Although approximately 40 states have adopted some sort of benefit corporation legislation, the laws can vary from state to state. Many have adopted a Model Benefit Corporation law drafted by a nonprofit organization called B Lab.
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.
Key Takeaway. There are four major classifications of corporations: (1) nonprofit, (2) municipal, (3) professional, and (4) business. Business corporations are divided into two types, publicly held and closely held corporations.
It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”.
Nespresso, the pioneer and reference-point of high-quality portioned coffee, has today announced its global certification as a B Corp. The Swiss-based brand joins an international movement of 4,500 purpose-led businesses that meet B Corp's high standards of social and environmental responsibility and transparency.
Why do companies become B Corporations?
Purpose of a B Corp
B Corps work to reduce inequality, lower poverty levels, create more sustainability for our environment, and build stronger communities. Certified B Corporations are legally required to consider the impacts of their company on those around them like: Employees. Customers.
B Corp certification is available to a variety of legal entities such as corporations, limited liability companies, partnerships, sole proprietorships, etc., whereas benefits corporations, including PBCs, are companies incorporated as corporations (i.e., not limited liability companies or partnerships).
On the simplest level, B Corp certification is a stamp of approval for companies that have proven their commitment to doing good. It's awarded by B Lab to companies that have met "rigorous standards of social and environmental performance, accountability and transparency," according to its website.
According to the U.S. Small Business Administration, a B corp is a for-profit corporation recognized by the majority of U.S. states that are driven by both mission and profit. Shareholders hold the company accountable to produce a financial profit as well as some sort of public benefit.
More than 100,000 businesses have signed up for the B Corp Impact Assessment since its launch in 2006, but only 3,500 companies—brands like Ben & Jerrys, Warby Parker, Patagonia, the Guardian, Kickstarter, and AllBirds, along with Lemonade—are certified B Corps.
