Report outlines B Lab’s progress to date in building a new sector of the economy
Submitted by: B Lab
Posted: Oct 01, 2009 – 11:00 AM EST
BERWYN, Penn., Oct. 01 /CSRwire/ - B Lab, the nonprofit that certifies B Corporations ("B" is for benefit), will publish the first B Corporation Annual Report in collaboration with Sustainable Industries, the business source for leaders of the New Economy. The report will include a summary of B Lab's progress to date in building a new sector of the economy through the growing community of certified B Corps, creation of a new corporate form, and a new rating system for impact investors.
In a time when many are looking for concrete, market-based solutions to systemic problems made plain by the financial meltdown, the B Corp community has grown 80 percent in the past year and thousands of businesses, large institutional investors and policy makers at every level of government have adopted the performance and legal standards outlined by the B Rating System.
Two characteristics distinguish B Corporations:
"This report will explain why B Corps matter and why now is the time to address fundamental, systemic problems with systemic solutions that go beyond window dressing and pleas for more regulation," said Jay Coen Gilbert, one of the three founders of B Lab. "We hope readers will walk away inspired by the impact B Corporations are having and better equipped to forge their own path to build a new, more inclusive and sustainable new economy in which businesses serve society as well as shareholders."
The B Corp Annual Report includes:
B Lab is a nonprofit organization whose mission is to create a new sector of the economy that harnesses the power of business to solve social and environmental problems. This sector will be comprised of a new type of corporation-the B Corporation – which creates economic opportunity, builds strong communities and preserves a healthy environment. B Corps meet higher standards of accountability, transparency, and social and environmental performance. As of September 2009, there are over 220 certified B Corporations from over 50 industries with more than $1 billion in revenues and $7 billion in assets under management.
B Lab's objective is to help B Corps become legally recognized by the states, tax preferred by the IRS, and valued by employees, investors, and consumers. B Lab also re-purposes the standards used to certify B Corps to help investors make high impact investments and governments implement policies to support sustainable business.
Sustainable Industries is an independent, award-winning media company serving business leaders on the West Coast and beyond. With news, tools and analysis focused on the environmental and social components of business, Sustainable Industries connects the dots between key sectors such as Clean Energy, Green Building, Technology and Food to raise the stakes in a working definition of Sustainable Industries. For more information, visit www.sustainableindustries.com
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