Today we congratulate B Lab on reaching the milestone of certifying 1,000 B Corporations (B Corps)! B Corps are certified by the nonprofit B Lab, based on rigorous standards of social and environmental performance, accountability and transparency. B Corps redefine a successful business as not only being the best in the world, but the best for the world. TriLinc Global and our B Corp peers across the globe use the power of business to solve social and environmental problems, and we are grateful that B Lab’s business certification confirms our intent.
Note: B Corps and Benefit Corporations are different. A B Corp qualifies for certification conferred by the nonprofit B Lab. A Benefit corporation is a legal status administered by the state. Benefit corporations do NOT need to be certified, whereas B Corps must be certified.
B Corp certification is not just a walk in the park; companies must meet and maintain rigorous standards to hold B Corp status. Each certified company adheres to B Corp standards and meets strict requirements related to workplace practices and social and environmental impact. By completing the B Corporation Impact Assessment, each B Corp receives a score based on the quality of jobs they provide to employees, the measurable positive impact they have on the communities in which they conduct business, and the environmental standards they implement.
You may be wondering why 1,000 companies would willingly hold themselves to stricter standards for certification. As a proud certified B Corp ourselves, we believe the answer is all around value. A certified B Corp isn’t only better for the world; it’s also better for the company itself. By offering a positive vision of a better way to do business, and by voluntarily meeting higher standards of transparency, accountability, and performance, certified B Corps distinguish themselves in a cluttered marketplace. Furthermore, certified B Corps have access to a portfolio of services and support. Through over 80 service partnerships, B Corps have enjoyed more than $5 million in savings and benefitted from technology, talent and expertise for their businesses.
Today marks the 1,000th business joining the B Corp community. As the movement has grown, it has become an increasingly powerful agent of change. Through our collective success, individuals and communities are enjoying greater economic opportunity, businesses are addressing society’s most challenging social and environmental concerns, and more people are finding fulfillment through a job that meets the demands of their whole being.
The B Corp movement offers a concrete, market-based and scalable solution. Learn more at: https://www.bcorporation.net