B Corporations: A Values Based Business Entity

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Presentation on B Corporations, their purpose, mission, and bylaws provisions for financial, social, and environmental responsibility. By Jeff Mendelsohn of New Leaf Paper.

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B Corporations: A Values Based Business Entity

  1. 1. B Corporations A New Sector of the Economy Jeff Mendelsohn CEO and Founder New Leaf Paper
  2. 2. Introductions • New Leaf Paper – Mission: to be the leading national source for environmentally responsible, economically sound paper – Goal: to inspire -- through our success -- a fundamental shift toward environmental responsibility in the paper industry • Founding B Corporation – Why: to participate in the creation of a business community that is committed to the highest standards of social and environmental responsibility – We have long waited for an organization to develop a transparent set of standards and processes around which such a business community can develop.
  3. 3. What is a B Corporation? • A new type of corporation that uses the power of business to create public benefit • B Corporations: – Meet comprehensive and transparent social and environmental performance standards – Legally expand the responsibilities of the corporation to include stakeholder interests – Build collective voice through the power of the unifying B Corporation brand
  4. 4. What are the Benefits • Differentiate your business • Maintain mission as you scale or plan succession • Gain access to value-added services (e.g. Salesforce.com) • Influence the market beyond the success of your individual company
  5. 5. What are the Standards • B Ratings System – Comprehensive Assessment Tool • Measures impact on consumers, employees, community and environment • Transparent and available for free on the web • Rigorous yet user-friendly – focused on the entrepreneur – Tools & Best Practices • Not just an assessment tool – the Survey has guidelines built in to help you improve your social and environmental performance • Management Tool: benchmark and implement continuous improvement – B Report • Comparable across industries to help drive consumer and investor capital • Sets a bar: defines what’s good enough – Version 1.0 • Governed by a 9 person, independent committee • New version released every 2 years
  6. 6. Standards alone are Insufficient • Standards and Legal Framework work together – Standards provide a measure of performance – Legal Structure provides accountability • Change your articles to include stakeholders – Expands the responsibilities of the corporation to include the interests of stakeholders • Functionality – Gives Permission and Protection for Directors to consider stakeholders, not just shareholders – Expands the rights of shareholders to hold company accountable • Survives New Management, New Investors, New Owners: IPO / Acquisition • Combination of performance and accountability creates a meaningful certification
  7. 7. Why does this Matter • Creating a new sector of the economy – A new way to do business using the power of capitalism to address pressing social and environmental issues – Government and Non-Profit Sector can not address these issues alone • Private sector represents 77% of US GDP – Business must be engaged • Vision – Federally recognized corporate structure – C Corp, S Corp and B Corp • Tax Incentives • Procurement Preferences • Investment Preferences • B Exchange (public stock market for B Corporations) – A sector as large as the Non-Profit Sector today

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