for profit for benefit

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B Corps: new advancements in a community advancing our communities


B Lab, the organization behind the growing community of B Corporations (companies using the power of business to solve social and environmental problems) or B Corps for short, recently released its 2011 annual report.

The report highlights some interesting progress over the last year, including a 75% increase in the number of certified B Corps, with larger businesses also joining the growing movement.

But the theme within the report I found particularly compelling is that the community of B Corps is now becoming large enough to exert a gravitational force of its own with the power to impact public policy while also creating opportunities for member corporations to help each other.

A few examples:

In 2010, with the encouragement of B Lab and the community of B Corps, legislation passed in both Maryland and Vermont creating a new type of “benefit corporation” with a legal responsibility to work for the good of the communities they serve, not just for the profit of their shareholders. Nine additional states in the US are set to move forward with similar legislation in 2011.

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