An emerging class of companies is beginning to form around a simple, but revolutionary, concept: The way a company conducts its business can be changed and harnessed to solve social and environmental problems. Known as "B Corporations," these companies have a legal structure that requires them to create value for a broad set of stakeholders — such as employees, communities, and the environment — as opposed to just shareholders. To become certified as a B Corporation, companies must adopt the B Corporation legal framework and complete and pass the B Impact Assessment annually, which assesses their performance on a set of social and environmental indicators. However, up until now, the B Impact Assessment has not included set criteria for assessing a corporation's performance in areas of employee and community health and safety.
Under this project, B Lab will develop a robust set of performance standards and metrics that will become an important part of the B Impact Assessment. This first generation of standards will consider areas such worker and family health benefits, worker and community health and safety, environmentally sound manufacturing processes, and public health. Standards-based certification will enable consumers to support businesses that align with their values and help investors to drive capital to higher-impact investments, as measured by social responsibility. As co-project director Andrew Kassoy says, "B Lab welcomes its partnership with RWJF. With this support, B Lab will soon provide tools that will prompt thousands more companies to address family healthcare, workplace safety, and environmentally sound practices. B Lab's work has the potential to change how corporations, nationwide, respond to the essential needs of their employees."
Amount Awarded $403,975.00
Awarded on: 11/5/2010
Time frame: 10/15/2010 - 4/14/2012
Grant Number: 67439