A Social Benefit Corp is a for-profit company that values more than just profit. In a traditional corporation, shareholders judge the company's performance on financials alone. In a Benefit Corp, shareholders judge performance based on the company's social, environmental, and financial performance combined. A Benefit Corp’s directors and officers operate the business with the same authority as in a traditional corporation but are required to consider the impact of their decisions not only on shareholders but also on society and the environment.
B Corp. Certification is issued by B Lab. To be granted certification companies must receive a minimum score on the B Corp. assessment, integrate B Lab commitments into the company’s governing documents, undergo an intensive review process and pay an annual fee. Once certified companies can display the B Lab logo and will be placed on the B Lab website.
B Lab is a global nonprofit with offices in the United States, Europe, Canada, Australia, New Zealand and a partnership in Latin America with Sistema B that serves a global movement of people using business as a force for good. B Lab’s initiatives include B Corp Certification, administration of the B Impact Management programs and software, and advocacy for governance structures like the benefit corporation.