Back in August, we looked at a recent business trend as evidenced by a surge in books about Purpose. Today I’d like to dig into a related trend just beginning to show up in books – The B Corporation.
A B-Corp is an organization certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. B Lab has been at the forefront of this movement and certifies each organization, a group which has topped 1,000 companies from 80 industries and 35 countries.
There is a B Assessment that a company can take to see if they qualify for B Corp status, available at BImpactAssessment, and the website BetterWorldBooks which brings together books in the field of sustainability, B corps, and similar topics.
The first book to come across my desk specifically about B Corps is The B Corp Handbook, written by Ryan Honeyman, himself a B Corp owner. Honeyman worked closely with over 100 B Corp CEOs and senior executives to share their tips, advice, and best practice ideas for how to build a better business, and how to meet the rigorous standards for–and enjoy the benefits of–B Corp certification.
This book makes the business case for improving your social and environmental performance, and offers a step-by-step “quick start guide” on how your company can join an innovative and rapidly expanding community of businesses that want to make money and make a difference.
The B Corp Declaration of Interdependence says it all:
We envision a new sector of the economy which harnesses the power of private enterprise to create public benefit.
This sector is comprised of a new type of corporation – the B Corporation, which is purpose-driven, and creates benefit for all stakeholders, not just shareholders.
As members of this emerging sector and as entrepreneurs and investors in B Corporations, we hold these truths as self-evident:
That we must be the change we seek in the world.
That all business ought to be conducted as if people and place mattered.
That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and the future generations.
This group holds to quite high aspirations and the movement seems to be growing. You can see what we’ve covered in this area through recent summaries of The Purpose Driven Economy in September, and The Responsible Entrepreneur coming out next week.