B Corps are the brainchild of 3 college friends, Andrew Kassoy, Bart Houlahan and Jay Coen Gilbert who together founded B Labs in 2007, the parent non-profit, that oversees and conducts these certifications.
The story goes that all three were climbing the corporate ladder in different industries but what they had in common was the feeling that something was missing in the way that businesses operated. They believed that businesses should be more and do more than just focus on the bottom line and how much they could squeeze out for their shareholders. It felt, short-sighting and missing a huge swathe of those impacted by or who were interdependent on the business. This was especially true as knowledge and recognition of climate change, social inequity and poverty were creeping onto the centre stage.
So, perhaps over a drink or round a table, these three friends decided that they would create a better way for businesses operate, through demonstrating and creating a legal commitment to stakeholders beyond those who have a financial dividend in the organization - employees, suppliers, communities, customers and the environment. The way that they did this was by creating a new kind of certification, one that emphasizes transparency and a higher level of accountability. One that looks at the whole business and how they operate. How they govern and one where companies commit to being better for the world not just in the world.
This is how the B Corp certification was born and do you know what? B Corps are proving time and again that there is a better way to do business and still be profitable.
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