B Corp Certification: Internationally Recognized
Benefit Company Certification: State Level Recognition
Mighty Epiphyte nurtures, advises, and guides companies through the certification process while consulting on business and marketing strengths!
“What does B Corp certification mean?”
In the words of Certified B Corporation:
“B Corp certification is to sustainable business what LEED certification is to green building, Fair Trade certification is to coffee, or USDA Organic certification is to milk.”
Certified B Corporations must voluntarily meet higher standards of transparency, accountability and performance, as well as help build a collective voice through the power of the unifying B Corporation brand. Unlike traditional corporations, certified B Corporations are legally required to consider the impact of their decisions not only on their shareholders, but also on their stakeholders (e.g., the community, the environment, workers, suppliers and consumers).
Certified B Corps voluntarily create higher quality jobs and improve the overall quality of life in communities worldwide, instead of relying only on government and nonprofit sectors to solve some of the more challenging societal issues. Certified B Corps are dedicated to creating corporate value for society, not just shareholders. In fact, the B Corp Declaration states that:
- We must be the change we want to see in the world.
- All business ought to be conducted as if people and place mattered.
- Through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
- We act with the understanding that we are each dependent on each other and, thus, responsible for each other and future generations.
B Corp certification is part of a global movement started by B Lab, a nonprofit organization that serves to redefine success in business so that all companies compete not only to be the best in the world, but the best for the world. B Lab drives this systemic change through a number of interrelated initiatives:
- Building a community of Certified B Corporations to make it easier for all of us to tell the difference between truly good companies and simply good marketing.
- Passing legislation to accelerate growth of social entrepreneurship and impact investing.
- Driving capital to high-impact investments through the use of GIIRS Ratings* and Analytics.
- Providing free, powerful tools for businesses to measure, compare, and improve their social and environmental performance.
To learn more about B Lab, visit the Non-Profit Behind B Corps page on the Certified B Corporation website.
*GIIRS Ratings are the gold standard for impact measurement in impact investing. They are rigorous, comprehensive, and comparable ratings of a company or a fund’s social and environmental impact. The GIIRS Rating is powered by the B Impact Assessment.
“What does Benefit Company Certification mean?”
If not us, who? If not now, when?
The Revolution has begin. We’re no longer defined by a single majority or one dominant demographic or business as usual.
Soon the U.S. population will be at least 50% non-caucasian. Millennials will be the largest generation ever in the workplace. And a new business structure will be thriving in every state. The mandate for such a revolution has been made even stronger due to polar ice caps melting at a record pace, hate crimes accelerating across the U.S., and corporate greed reaching new heights.
Indeed, a change is more than justified. Welcome to the age of the Benefit Corporation where people, planet, and profit come together for the greater good. We see the Benefit Corporation as the essential 21st Century business structure. It’s clear that if you’re building a business for the future, you better build something that reflects this new world order. Consider this number: 66%.
66% of consumers across 60 countries will pay more for products and services from companies committed to positive environmental and social impact. 70% of U.S. Millennials will pay more for products and services from companies with corporate social responsibility programs.
Today, 34 states offer the Benefit Corporation with more soon to follow. Besides a profit, a Benefit Corporation much provide a positive impact on workers, community, and the environment as its legally defined goals. More importantly, you must believe in the premise of Benefit Corporations and then act like one! In order words, you must walk your talk.
Consult with your legal and biz advisors. It doesn’t matter if you’re an incorporated business entity or just launching. You become a Benefit Corporation by taking a single step and believing your business can make an impact.
Above Transcript is for the video shown below from Benefit Corporations for Good.
The State of Oregon
Mighty Epipyte is a certified Benefit Company for Good in Oregon, and can guide your company through the state certifications irregardless of where your business is registered. With 34 states having passed Benefit Corporation legislation and six additional states working on it* there is a great variety in requirements. Working with Mighty Epiphyte will make the process smoother and more profitable. In Oregon, the Benefit Company Legislation is available to both Limited Liability Companies and Corporations. See the Oregon Secretary of State’s description of how to file to become a benefit company.
Ask me how to become Benefit Company certified.
Below is a short video describing why Benefit Companies are gaining in popularity and importance. The words are transcribed above.