The B Lab & B Corporations

Since we've dedicated this week to articles about for-profit companies that are giving back in a big way, I thought it would be helpful to provide some information on B Corporations, and introduce the intersection of the non-profit and for-profit world. As you may have noticed  many of the companies featured this week are certified B corporations.


B Lab is a non-profit organization entrepreneurs committed to using business to solve social and environmental problems through three initiatives:

• Certified B Corporations -  use the power of business to solve social and environmental problems. To become a certified B corporation, companies must take the free, confidential B Impact Assessment, which measures a company's impact on communities, employees, and the environment.  Today the number of certified corporations is 681, in 24 countries and 60 industries.
• Passing Legislation - through the leadership of the community of certified B corporations, laws have been passed in 11 states, (and moving forward in 16 more), to create a new type of corporation- the benefit corporation- that best meets the needs of socially conscious entrepreneurs and investors. Benefit corporations have the same business model as traditional corporations; however they have higher standards of corporate purpose, accountability and transparency.
• GIIRS Ratings and Analytics - is a rating agency and analytics platform for impact investors. It gives investors the tools they need to analyze the impact of their investments with the same rigor as they analyze their financial risk and return.

Now, I must admit, I was feeling a little uncertain about B corporation certification and B Lab when I  first read about them. But, in true non-profit... and B corporation fashion, the organization is extremely transparent, with some big players in the for-profit and non-profit world involved in this movement.

First,  B Lab has published an annual report that is easily accessible on their website. Their pioneer investors for GIIRS Ratings and Analytics include the Rockfeller Foundation, J.P. Morgan, W.K. Kellogg Foundation, and 20 other big wigs. Finally, you can learn more about B Lab, but checking out their GuideStar profile.

Wondering if you'd recognize a certified B corporation? Well why not read about, Ben &Jerry's, here.

If you're interested in becoming a Certified B Corporation, you can take the B Impact Assessment, here.

For the socially conscious consumer, Certified B Corporation has a directory of companies that meet their criteria, from financial services to energy provides. The company profiles include their B Impact Assessment rating.

Better World Books

Better World Books (BWB) was founded in 2002 by three college friends who started selling textbooks online to make money and ended up forming a pioneering social enterprise- a business with a mission to promote literacy. They believe education and access to books are basic human rights. BWB uses the power of business to change the world. They collect and sell books online to donate books and fund literacy initiatives worldwide. There are over 8 million new and used titles to purchase.

All books are shipped free, and in case you're concerned about your eco-footprint, every order shipped is carbon balanced with Green-e Climate certified offsets from 3Degrees, a leading green power and carbon balancing services firm.

Impact:

To date BWB has:

• donated over 7,048,615 books
• raised $13,446,219.11 for literacy and libraries
• reused/recycled 97,959,917 books

So far, 58 million books have been converted into $10.4 million in funding, and over 40,000 tons of books have been saved from landfills. Books are collected through a network of 2,300 college campuses and 3,000 libraries.

Programs:

• Book for Book - for every book purchased, BWB donates a book to someone in need. 

• LEAP (Literacy & Education in Action Program) - funds literacy and educational nonprofits and libraries for specific projects- the frontline of the fight to reduce global poverty through education. Several times a year, BWB invites literacy-focused organizations to apply for grants to support high-impact literacy projects. Then BWB selects the projects they feel "have the biggest bang for the buck." Projects are funded through BWB's General Literacy Fund, which means they make grants in addition to the regular stream of revenue earmarked for libraries and their nonprofit partners.

• Donations - BWB sells new and used books, so you can donate your books (via one of their drop boxes or mail) and they will be sold online to help raise funds for nonprofit literacy organizations.

Partners:

BWB's four primary literacy partners:

• Books for Africa
• Room to Read
• Worldfund
• National Center for Family Literacy

I urge you to visit Better World Books' website to review their mission and values, read about their impact and buy some books! (They even have gift certificates).