B Corporations are a new type of for-profit organizations that meet a high standard of social and environmental performance, transparency and accountability. They redefine success in business by competing not to be the best in the world, but to be the best for the world. By introducing the concept Andreas shared how to become a B company and what the benefits are.

1. Talks and Insights
LEADERSHIP Meetup #6
B Corporations
by Andreas Renner, Founder B Corp Germany

2. B Corp Certification
Overview

3. Outline 1 B Lab & B Corp Overview
2 Why Certify?
3 Steps to Certification
ü Business Case
ü Measure What Matters
ü Protect your Mission
ü Final Steps
4 Resources

4. B Lab serves a global movement of
people using business as a force for good.
B Lab’s vision is that one day all companies will compete to
be best for the world, and as a result society will enjoy a
more shared and durable prosperity.

5. Building a movement of leaders
Creating paths for others to follow
A Shared & Durable Prosperity
Certified B Corporations
Building Collective Voice
Mission-Aligned Governance
Measure What Matters

6. The Evolution of Business
20th Century 21st Century
Shareholder Corporation Stakeholder Corporation
Maximizes
Shareholder Value
Creates Social Value and
Shareholder Value
was about is about
Today there are:
60 Million
Conscious Consumers
$2.7 Trillion in Socially
Responsible Investments
100,000 Social Entrepreneurs &
Responsible Businesses

7. People are Demanding Better
Last 20 Years
Good Products
“
21st Century
Good Companies
90% of Americans say that companies must not only
say a product or service is beneficial, but they need to
prove it.”
– Cone Communications
73% of consumers care about the company, not just
the product when making a purchasing decision.”“ – BBMG

8. vs.• A certification conferred by the nonprofit B Lab
• A company that meets a high level of social and
environmental performance AND makes a legal commitment
to consider all stakeholders
• Any for-profit company in any country can pursue
certification (LLC’s included)
• A corporate form (taxed like a C-corp or an S-corp) that
has a higher level of transparency, accountability and
purpose
• A legal entity that has protection and permission to
consider its impact on all stakeholders, not just
shareholders
• Available in 31 states in the U.S., Puerto Rico, & Italy
Certified
B Corporation
Benefit
Corporation

9. B Corporation certification is to business
what Fair Trade is to coffee, Bioland is
to milk or FairWear is to a T-shirt.

10. Certified B Corporations are leaders
of a global movement of people using
business as a force for good.
They meet verified higher levels of
1. Social and environmental performance
2. Transparency
3. Accountability

11. 1800+
CERTIFIED B CORPS
50+
COUNTRIES
140+
INDUSTRIES
1
UNIFYING GOAL
The B Corp
community is good
company to keep.

12. The B Corp community is good company to keep.
Location: Hopland, California
Product/Service: Wine
100% of workers paid above living wage.
Free on-site financial education to all workers.
>30% suppliers create employment in chronically
underemployed populations.
Scholarship programs for children of employees.
100% organic vineyard practices.

13. B Corps in the Public Market

14. Why Certify?
1. Maintain Mission
2. Differentiate from Pretenders
3. Benchmark and Improve Performance
4. Attract and Engage Talent
5. Collaborate with Peers
6. Save Money and Access Services
7. Generate press
8. Raise Capital

15. Maintain Mission1
Adopting the B Corp legal standards:
1. Bakes the values of the company into its
legal DNA
2. Gives protection and permission to
consider non-financial stakeholders
(community, employees, suppliers,
environment)
3. Ensures that mission can survive through
new management, succession, or
ownership
“Benefit corporation legislation creates the
legal framework to enable mission-driven
companies like Patagonia to stay mission-
driven through succession, capital raises,
and even changes in ownership, by
institutionalizing the values, culture,
processes, and high standards put in place
by founding entrepreneurs.”
Yvon Chouinard, Patagonia
First to register as a benefit corporation in
California on January, 2011

16. Differentiate from Pretenders2

17. Benchmark & Improve Performance3
“The biggest surprise
to me was realizing
that our employees
deeply cared about the
things the B Impact
Assessment
measured.”
Jennifer McKaig, Etsy

18. Attract & Engage Talent4
B Corp certification provides a platform to
engage current staff and give employees more
meaning in their work.
B Work:
In partnership with Fitzii, a hiring platform to help
B Corps win the war on talent.
Free
B Corp Leadership Development (BLD):
1 day conference for B Corps, by B Corps for
thought leadership development for employees
of all levels of the company.
SF, NYC, Boulder, BC, Australia, New England.

19. Collaborate with Peers5

20. Save Money & Access Services6
A suite of partnerships and discounts Tuition Discounts / Forgiveness
ERP Software Discount Software Discount
Legal Advice Software Discount
Hiring platform &
Free Job Postings

21. Generate Press7
“B Corp is one of 20 Moments That
Mattered Over the Last 20 Years”
“‘B Like a B Corp is one of 5 Business
Trends to Master in 2016”
“Benefit Corps are one of “5 Noteworthy
Happenings in 2015”
In my work, I often wonder to what extent
business can help society in its goals to
alleviate poverty, preserve ecosystems, and
build strong communities and institutions…
B Lab has proven that there is a way –
the B Corp movement shows us that
business, the driving force of our
economy, can be an agent of change and
live up to society’s standards.”
- Secretary of State Madeleine Albright
“

22. Raise Capital7
Find Companies & Funds
Gain Visibility With
Leading Impact Investors
GIIRS rated companies and funds are
highlighted in the search features of B Analytics
as being best in class in terms of measurement
practices.
Getting listed on B Analytics exposes a company
to 100+ impact-focused investors who have a
stated preference for GIIRS Rated Companies.

23. Steps to B Corp
Certification
Get a baseline
Engage your
team
Documentation
& Review
Finalize &
Submit
Understand your
roadmap
Know your
business case
Engage leadership
and board
Meet the
requirements
BUSINESS
CASE
MEASUREWHAT
MATTERS
PROTECTYOUR
MISSION

24. Who Can Certify?
• For-Profit Companies of Any Size
• Any Industry / Geography
• Customized assessment based on industry, size, geography
• Any Legal Structure (sole proprietors, LLC’s, Corporations, etc.)*
• Companies over 1 year old – special Pending B Corp program for start-ups*

25. Know your business case
B Corp Certification helps companies:
1. Maintain Mission
2. Differentiate from Pretenders
3. Benchmark and Improve Performance
4. Attract and Engage Talent
5. Collaborate with Peers
6. Save Money and Access Services
7. Generate press
8. Raise Capital
Know your
business case
Engage leadership
and board

26. Engage your leadership
& board
Identify relevant decision makers (President, CEO, CMO, etc.)
Explain objectives and benefits
Start conversation about requirements, particularly legal
Know your
business case
Engage leadership
and board
1
2
3

27. Understand your legal roadmap
❑ Determine your path based on corporate structure and
country (US or Canada) or state of incorporation:
▪ Amend your governing documents OR
▪ Adopt benefit corporation status
Examples:
❑ LLC in the United States: Amend operating agreement
❑ Delaware Corporation: Adopt Benefit Corporation form
within 2 years of certification

28. Meet the legal requirement
Adopting the B Corp legal standards:
• Bakes the values of the company into its legal DNA
• Gives protection and permission to consider non-
financial stakeholders (community, employees,
suppliers, environment)
• Ensures that mission can survive over time

29. Measure What Matters
Governance
WorkersCommunity
Environment
Customers

30. Get a baseline
Dedicate two hours to get a baseline.
Create a free B Impact Assessment
account
Take a first pass of assessment
Review initial score
See how you stack up compared to the
40,000+ businesses globally
Get a baseline Engage your team
1
2
3

31. Impact Business Model
May be based on a product,
beneficiary, particular process,
activity or structure
Unique to the B Impact Assessment
Extraordinary & contingent upon
company
Covers facilities, purchases,
employees, and governance
Aligned with other best-in-class
standards
Applies to all companies
independent of design or intent
Operational Impacts

32. Take a first pass and
use estimates

33. Registration responses
determine your company’s
assessment track
● Company Details
● Geography
● Sector and Industry
● Size

34. ● Shows questions
marked to ‘revisit’
● Questions can be
answered within
reports.
Revisit Question Report

35. Explain This &
Show Examples
Provide resources, case
studies, and definitions to
answer questions

36. Gather a team to steward the
process
● Identify the right people (eg. Human
Resources, Operations, Finance)
● Explain Objectives and Benefits
● Assign Questions and deadlines
Engage your team Get a baseline Engage your team

37. OR gather documents
It may be easier to gather information from your team and respond to
assessment questions yourself.
✓ A payroll register/employee roster
✓ Employee handbook
✓ A list of our "significant suppliers" (top 80% of suppliers/vendors by dollar volume)
✓ A breakdown of revenue from our various products and services
✓ A P&L
✓ Any resource use tracking (energy, GHG's, water, etc.)
✓ Any sustainability / corporate social responsibility goals, reports, progress tracking

38. Meet the Requirements
Filter by:
1. Section, Impact
Area
2. Difficulty of
change
3. Score Value
Customized
Improvement Report
Documentation
& Review
Finalize &
Submit
Meet the
requirements

39. Finalize & Submit
Company Profile
Disclosure
Questionnaire
Submit Assessment for
Review (90%
complete)
2
3
1

40. Upload Operations Documentation
● 6-10 questions
● Randomly Selected
Examples:
● Employee handbook
● Breakdown of suppliers by location
● List of board members
Complete 60-90 minute review call
Documentation & Review
1
2

41. Final Steps
❑ Sign B Lab Term Sheet
▪ Certification term is 2-years
▪ Participate in on-site review if randomly
selected (10% of Certified B Corps each year)
❑ Sign the Declaration of Interdependence
❑ Pay licensing fees
▪ Annual licensing fees based on the tiered
structure
❑ Public profile on bcorporation.net
1
2
3
4

42. Pending B Corp Status for Startups
A one year program designed to help startups (< 1 year ops) understand and improve their
impact with the ultimate goal of creating a lifelong leader in using business as a force for
good.
Two step process:
1. Protect your mission
2. Start measuring impact
1
2

43. Redefine success in business.
Help create the new economy. Build
a better business.
Compete to be not only the best in
the world, but the best for the world.
Join Us

44. Resources
View past webinars at www.bcorporation.net/videos/webinars
● Why: Case for Certification with Fetzer Vineyards
● Increasing your Impact, Improving your Score
● Maintaining Mission: Meeting the Legal Requirement for B Corp Certification
● B Impact Assessment: http://bimpactassessment.net/bcorporation
● How to Certify as a B Corp: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
● Legal Requirements: http://www.bcorporation.net/become-a-b-corp/why-become-a-b-corp/protect-your-mission
● FAQ for Investors & Directors:
http://www.bcorporation.net/sites/all/themes/adaptivetheme/bcorp/pdfs/faqs_investors_and_directors4.pdf
● Pending B Corp Status for Start Ups:
http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/steps-start-ups
● Case Studies: http://bimpactassessment.net/case-studies
● B Corp Press: http://www.bcorporation.net/news-media