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B Corps - SocEnt.ie

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B Corps Ireland

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B Corporation Ireland

B Corps are businesses that are certified by the non-profit organisation B Lab to meet standards of social and environmental performance, accountability and transparency. The B Corp certification evaluates an entire company, helping to distinguish between good companies and good marketing. Today, there are over 1,300 B Corps worldwide in 42 countries, creating a global phenomenon and exemplified by companies such as Etsy and Patagonia. There are two distinct elements to B Corps, a certification and a legal entity.

Legal Entity

In the US, B Corps lobbied for legislation to secure their existence and, as a result, benefit corporations have been successfully rolled out as a company type in many states. Often times the introduction has been welcomed unanimously by both sides of the aisle. Like Community Interest Companies, B Corps could possibly be introduced into Ireland. They would make it easier not only for social enterprises to form and have legal standing but also for businesses to provide a sustainable social good as well as create profits. Goals and plans need to be designed around the development and introduction of B Corps in Ireland; a sub committee may be required.

Certification

In countries without B Corp legislation, such as Ireland, you can take the B Impact Assessment for companies to benchmark their sustainability and positive social impact.

B Lab Europe has asked Chris Gordon to lead the operation in Ireland to develop the standard.

Useful Links:

https://www.bcorporation.net/what-are-b-corps

http://benefitcorp.net/about-b-lab