Why B-Corps MatterSubmitted by Goodfunds Wealth Management-->Natural Investments, LLC on April 5th, 2016
Goodfunds is proud to share some good news. After a fairly exhaustive audit and application process, we are now officially a certified B-Corporation®!
Certified B-Corporations are to business what USDA Organic certification is to milk or Fair Trade certification is to coffee. B Corps are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency.
As of March 2016, there are over 1,400 Certified B Corporations from more than 120 industries and 40 countries with 1 unifying goal – to redefine success in business.
B Corps™ are important because they inspire all businesses to compete to be the Best for the World®. The performance standards B Corps™ meet are comprehensive, transparent and verified. They measure a company’s impact on all its stakeholders (e.g. workers, suppliers, community, customers and the environment). Unlike traditional corporations, Certified B Corporations are legally required to consider the impact of their decisions on all their stakeholders.
Here are highlights from the B Lab's 2012 report:
Certified B Corporations® are leading a global movement to redefine success in business and build a more inclusive, resilient, and sustainable economy. Success in the 21st century means achieving high growth and high impact. It means making money and a difference.
By voluntarily meeting higher standards of transparency, accountability, and performance, more than 1400 businesses are distinguishing themselves in a cluttered marketplace, offering a positive vision of a better way to do business to an increasingly discerning and skeptical public...B Corps demonstrate that we can create a both/and economy--not just an either/or economy.
As the movement grows, it has become an increasingly powerful agent of change, passing laws to create the appropriate legal infrastructure to support sustainable business. B Labs is creating standards that allow investors to drive capital to these businesses and help them grow, attracting partners like Yale SoM, Salesforce, and TrustLaw.
The government and the nonprofit sector are necessary but insufficient to address society's greatest challenges. Business, the most powerful human made force on the planet, must create value for society, not just for shareholders. Systemic challenges require systemic solutions and the B Corporation movement offers a concrete, positive, market-based, and scalable systemic solution.
We're honored to share this great news with you! Thank you for being part of the movement of a new economy where business is a force for good.