What it means
to be a B Corp
How does a B Corp work?
B Corp certification verifies and ensures that a company operates according to the high standards of social and environmental performance defined by the no profit B Lab. B Corp companies are committed daily to an inclusive, equitable and regenerative economic paradigm.
They are for-profit companies in their own right, but creating shared value toward all stakeholders is an integral part of their business model.
Together, the B Corps constitute a global movement that aims to spread a new economic paradigm, which sees business as a fundamental tool for creating wealth for society and the planet, and to spark positive competition among all companies so that they are measured and evaluated according to this parameter.
What does it mean to be B Corp certified?
Achieving B Corp certification requires a rigorous process of measurement and analysis of the company's sustainability profile by B Lab, at the end of which, if the standards required by the body are met, one can actually become a B Corp. Only with the achievement of the 80-point threshold (on a scale from 0 to 200), it is possible to request verification of the score, which, if validated, will allow obtaining the certification. If the score is lower, however, through the BIA, improvement actions needed to improve the score can be identified.
Differences between B-Corp and Benefit Corporation
B Corp certification and the legal status Benefit Company (Benefit Corporation) are two different, albeit complementary, concepts.
B Corps are companies that, as a result of achieving a certain score in measuring their impact, have obtained certification that ensures that the company is committed to accountability, transparency and continuous improvement.
The legal status Benefit Society, on the other hand, allows companies that adopt it to include within the corporate purpose the creation of value for all stakeholders, thus formalizing a Purpose that goes beyond just profit and the company's commitment to pursuing Common Good goals. Benefit Societies are thus in effect "double purpose" companies.
Today, more than 2,500 Italian companies have already chosen to change their legal status from a simple SRL or SPA, acquiring the status of Benefit Corporation.