Replies to This Discussion

Permalink Reply by Sue Lebeck on April 15, 2011 at 4:59pm

Update from our friends at thelab@bcorporation.net :

The B Corporation movement was featured this week in The New York Times by Pulitzer Prizing winning author Tina Rosenberg as part of her Fixes column about creative solutions to social problems. The first installment tells the overall B Corp story and the follow up piece talks about the business case for B Corp. 

Part 1:  "A Scorecard for Companies with a Conscience"

Part 2: "Ethical Businesses with a Better Bottom Line"
 

Enjoy and please share with your friends and fans. 

 

Thanks to everyone for their work making good things happen.  Enjoy the weekend.

be the change,

The B Lab Team

Permalink Reply by Sue Lebeck on June 27, 2011 at 7:18pm

This update from our friends at Blabs -- Congratulations!! Nine Certified B Corporations Named America’s Most Promising Social Entrepreneurs 2011 by Bloomberg BusinessWeek Nine Certified B Corporations have been named by Bloomberg’s BusinessWeek as ‘America’s Most Promising Social Entrepreneurs’ of 2011. Azavea, Change.org, Dimagi, Emory Knoll Farms, Freelancers Insurance Company, Greyston Bakery, Nest Collective, Re:Vision Architecture and World Centric are all recognized this year as leaders in this growing sector of mission-driven businesses. The nine honorees this year represent diverse industries from insurance to green building and consumer products to health care technology. B Corporations have represented 31% of ‘America’s Most Promising Social Entrepreneurs’ since BusinessWeek began recognizing these leaders three years ago. Eleek, Napo Pharmaceuticals, DripTech, Mobis (Bikestation), The Redwoods Group, Source 44 and Sustainable Harvest were named in 2010. Better World Books, CleanFish, Fair Trade Sports, Ice Stone, Impact Makers, PhilanTech and SVT Group were included in 2009. “We are honored that B Corporations continue to be recognized as leaders of this growing movement of social entrepreneurship,” says B Lab co-founder, Jay Coen Gilbert. Certified B Corporations are a new type of corporation that uses the power of business to solve social and environmental problems. To earn certification, B Corps meet rigorous standards of social and environmental performance, legal accountability, and public transparency. There are more than 400 Certified B Corps from over 60 industries. Investors are showing increasing interest in these high-impact businesses. A JPMorgan research report labeled impact investments as an "emerging asset class" with profit potential in the hundreds of billions over the next decade. See the full list of America’s Most Promising Entrepreneurs 2011 here

 

B Corps Named in 2011 Azavea - Azavea provides GIS and Mapping Software Development and Geospatial Analysis Services. Change.org - Change.org is the leading site for social change, providing daily news and information about important social issues and empowering people to take action. Dimagi - Dimagi is an award-winning, socially-conscious technology company that helps organizations deliver quality health care to urban and rural communities across the world. Emory Knoll Farms - Emory Knoll Farms’ nursery is the only one in the U.S. entirely devoted to growing plants used in the green roof industry. Freelancers Insurance Company - Freelancers Insurance Company provides health insurance to independent workers. They're owned by the Freelancers Union, whose members are their only customers. Greyston Bakery - The Greyston Bakery is a for-profit enterprise owned by the non-profit Greyston Foundation that has been producing the finest brownies, cakes and tarts for 25 years. Nest Collective - A company of consumer products brands focused on nourishing babies, toddlers and kids with healthy, organic foods. Re:Vision Architecture - Re:Vision Architecture (RVA) is an architecture, planning, and consulting firm specializing in sustainable design and development. World Centric - World Centric provides high quality compostable food service disposables and food packaging products for use in schools, corporate cafeterias, restaurants, hospitals, parties etc.

 

B Corps Named in 2010 Eleek - Eleek is a sustainable design and manufacturing business specializing in high-style lighting and other decorative building parts. They also offer custom design and manufacturing, as well as lighting restoration and retrofitting services. Napo Phramaceuticals - CAP Global, a wholly owned subsidiary of Napo Pharmaceuticals, develops and commercializes novel, branded pharmaceuticals to global populations through the establishment of local partnerships. DripTech - Driptech Inc. designs and manufactures low cost, drip irrigation for small farmers in developing countries. Mobis (Bikestation) - Bikestation plans, designs, builds, and operates bike-transit centers and other multi-modal facilities. The Redwoods Group - The Redwoods Group, a privately held socially conscious company, is a commercial specialty insurance provider. Source 44 - Source 44 provides data services to help companies evaluate and monitor their environment impact. Sustainable Harvest - Sustainable Harvest is one of the highest volume importers of organic and fair-trade coffee in North America.

 

B Corps Named in 2009 Better World Books - Better World Books is an online book retailer and social enterprise. CleanFish - CleanFish specializes in providing top quality seafood that is delicious, safe & sustainable - fish you can trust™. Fair Trade Sports - Fair Trade Sports, Inc sells Fair Trade, FSC Certified sports balls for soccer, football, basketball, rugby, volleyball, and more. IceStone - IceStone LLC manufactures high-design durable surfaces from 100% recycled glass and cement that are used in kitchen countertops, bathroom vanities and flooring. Impact Makers - Impact Makers delivers IT and management consulting professional services, focused on the healthcare industry. PhilanTech - PhilanTech provides online grants management systems that enhance accountability, transparency, and efficiency. SVT Group - SVT Group is a strategic impact advisory firm that helps investors and organizations manage impact.

Permalink Reply by Sue Lebeck on October 11, 2011 at 3:36pm

News from our friends at B-Labs -- Woohoo!

Dear Friends of the B Community,

 

California Benefit Corporation legislation has been signed by Governor Brown!

Please find the full press release here and what B Lab co-founder Jay Coen Gilbert has to say about what it means in the big picture here.

The bill was sponsored by the American Sustainable Business Council, New Voice of Business, and B Lab; and the effort to pass AB 361 was led by a legal working group co-chaired by John Montgomery from Montgomery & Hansen LLP, Donald Simon from Wendel Rosen Black & Dean LLP, and Jonathan Storper from Hanson Bridgett LLP.

 

B the Change,

The Team at B Lab

Permalink Reply by Sue Lebeck on December 15, 2011 at 12:50pm

A new update from our friends at B Lab:

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To help answer questions about the benefit corporation legislation recently passed in NY and CA, we’ve launched a new informational website -- www.benefitcorp.net.

 

On it you’ll find detailed legal analyses like the Clark, Vranka et al Benefit Corp White Paper and answers to FAQ like . . .

• “Is there a difference between a Certified B Corp and a benefit corp?”
• “What? Why? and How?”
• "Can you provide some guidance for attorneys and directors?"

 

As always, please let us know what we can do to make our work more useful.

Be the change,

The B Lab Team

Permalink Reply by Sue Lebeck on January 5, 2012 at 8:01pm

News from our friends at bcorporation.net!  -- Cheers, Sue

--------------------------------

 

Patagonia Registers as California’s First Benefit Corporation

Founder Yvon Chouinard Leads Largest Group of Businesses

to Register on First Effective Date

 

After ‘Year of the Protester’, Business Leaders Embrace Positive Alternative

SACRAMENTO, Calif., Jan 3, 2011 – Today, Patagonia became the first company in California to elect benefit corporation status.  Patagonia founder Yvon Chouinard led the largest group of businesses to register on the legislation’s first effective date among the 7 states that have passed benefit corporation laws.  The dozen CEOs filed their documents at 9:30 a.m. as soon as the offices of the California Secretary of State opened.  Scores of other businesses have expressed interest in registering in the next few months.

“After the ‘year of the protester’, it’s inspiring that a group of business leaders are taking action to create a positive alternative,” said Jay Coen Gilbert, co founder of B Lab, a non-profit organization that supported the legislation.

Benefit corporations are a new kind of corporation legally required to: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) redefine fiduciary duty to require consideration of the interests of workers, community and the environment; and 3) publicly report annually on its overall social and environmental performance using a comprehensive, credible, independent, and transparent third party standard.  Current law requires corporations to prioritize the financial interests of shareholders over the interests of workers, communities, and the environment.

 “Patagonia is trying to build a company that could last 100 years,” said Patagonia founder Yvon Chouinard.  “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” 

“It is safe to declare a successful end to the ‘beta test’ phase of socially responsible business,” said Mike Hannigan, President and Co-Founder of Give Something Back Office Supplies. “we have been giving customers their money's worth and a whole lot more for more than 20 successful years. This important legal framework marks another giant step of mission driven business towards the mainstream.”

“We rushed to be in Sacramento on January 3,” said Sandra Stewart, principal of Thinkshift Communications. “It’s what people are demanding. It’s not just a trend -- ingraining values into a legal corporate structure is key to a sustainable future.”

New York, New Jersey, Virginia, and Hawaii passed similar legislation in 2011, joining Vermont and Maryland who did so in spring 2010. Benefit corporation legislation has also been introduced in Michigan, Pennsylvania, North Carolina, and the District of Columbia. Legislation has enjoyed strong bi-partisan support in every state.

“This is California at its best, showing there is a way to create jobs and grow the economy while raising the bar for social and environmental responsibility,” said Assemblymember Jared Huffman (D-San Rafael). “With this new law, we are attracting new socially-conscious companies, investors and consumers – we’re sending a strong message that California is open for this emerging form of business.”

The California bill had significant business support, including that of more than 200 individual California businesses, 12 business associations, including the Silicon Valley Leadership Group and the U.S. Green Building Council, standards organizations like GreenSeal, and more than 3,000 California citizens through the advocacy efforts of Care2.com, all interested in creating better choices for the growing number of entrepreneurs and investors who seek to create businesses that create both social and shareholder value.

The bill was sponsored by the American Sustainable Business Council, New Voice of Business, and B Lab; the effort to pass the bill was led by a legal working group co-chaired by John Montgomery from Montgomery & Hansen LLP, Donald Simon from Wendel Rosen Black & Dean LLP, and Jonathan Storper from Hanson Bridgett LLP; and the citizen advocacy campaign was led by Care2.com.

For additional background on benefit corporations, including national and local legislative updates, see www.benefitcorp.net.  

#          #          #

First Day Registered Companies:

DopeHut, Dharma Merchant Services, Give Something Back Office Supplies, Green Retirement Plans, Opticos Designs, Patagonia, Rimon Law, Scientific Certification Systems, Solar Works, Sun Light & Power, Terrassure Sustainable Land & Resource Development, Thinkshift Communications

 

Initial Sponsors:

B Lab: is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab’s GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business. For more information, check www.bcorporation.net.

American Sustainable Business Council: is a growing coalition of business networks and businesses committed to advancing a new vision, framework and policies to support a vibrant, equitable and sustainable economy. The Council brings the business perspective, experience and strength to stimulate our economy, benefit our communities, and preserve our environment. Today, the organizations that have joined in this partnership represent over 65,000 businesses and social enterprises and more than 150,000 entrepreneurs, owners, executives, investors and business professionals and other individuals. www.asbcouncil.org

New Voice of Business: is a non-profit organization that promotes economic, social and environmental sustainability in the United States. Its mission is to inform, engage, and mobilize an influential network of business people – a unified, new voice of business to advocate for a sustainable economy and encourage triple bottom line business practices. New Voice advocates for policy change that makes it easier and more profitable for business to operate sustainably. For more information please visit: www.newvoiceofbusiness.org.

Care2: With more than 17 million members and over 700 nonprofit partners worldwide, Care2 is the largest online community that empowers millions of individuals to lead a healthy, sustainable lifestyle and support important causes. Care2 is a B Corporation, or social enterprise, that generates revenues by connecting individuals with nonprofits and business that are making the world a better place. Care2 has worked with B Lab to provide thousands of signatures to advocate for Benefit Corporation legislation passed in California and New York. Founded in 1998, Care2 has collected over 80 million signatures on petitions featuring timely and important issues. Please visit the Care2 community at http://www.care2.com.

Assembly member Jared Huffman (D-San Rafael): represents the 6th Assembly District, which encompasses southern Sonoma County and all of Marin County. First elected in 2006, Huffman chairs the Assembly Water, Parks and Wildlife Committee and also serves as Co-Chair of the Legislative Environmental Caucus.

 

Permalink Reply by Sue Lebeck on January 9, 2012 at 12:17pm

More great info from our friends at B Lab (sorry - the pictures did not come through) --- Cheers, Sue

 

 

The quote from Yvon says it all.    “I hope that five years from now, ten years from now, we’ll look back and say this was the start of the revolution. The existing paradigm isn’t working anymore—this is the future.”   Yvon Chouinard, Patagonia   Thanks to the 200+ businesses, 12 business associations, and more than 3,000 citizens who helped get benefit corporation legislation signed into law.  And especially to the dozen businesses that trekked to Sacramento to register on the first effective date.  You are all pioneers and we are all in your debt.  Thank you DopeHut, Dharma Merchant Services, Give Something Back Office Supplies, Green Retirement Plans, Patagonia, Rimon Law, Scientific Certification Systems, Solar Works, Sun Light & Power, Terrassure Sustainable Land & Resource Development, Thinkshift Communications.   We know there are many more of you in the pipeline and we can’t wait to celebrate your leadership.     The Faces of the New Economy in Sacramento on January 3, 2012 *           *           *   Yvon Chouinard, Founder of Patagonia, remarks on the importance of being a Benefit Corporation     Below is just a fraction of the press coverage of what happened last week in California and why it's important from some different perspectives KQED Radio: Law Aims to Increase Corporate Social Responsibility  LA Times: Businesses seek state's new 'benefit corporation' status The Economist: Firms with Benefits   Treehugger.com: Patagonia Becomes A California Benefit Corporation   GOOD Business: Twelve California Companies Seize the Moment... Check out all the press here. If you're a CA company and want to join the leaders in the first class of 2012 benefit corporations, visit www.benefitcorp.net or reach out to heather@bcorporation.net so we can help. If you’d like to support our efforts to pass legislation in other states in 2012 (we’re focusing on PA, NC, MI, OR, WA, MA, IL), please reach out to erik@bcorporation.net.    Be the change, The B Lab Team

Permalink Reply by Sue Lebeck on January 11, 2012 at 2:09pm

Hanson Bridgett, law firm and Founding B Corporation, is holding a workshop in San Francisco on Jan 19.  See details below.....  Cheers, Sue

 

January 19, 2012 5:30 – 6:00 cocktails and registration 6:00 – 7:30 workshop Hanson Bridgett 425 Market Street, 26th Floor San Francisco, California Directions » Pre-registration is required. Space is limited.. Cost: $45.00 Register Now »   Know someone who would be interested in this event? Forward this message »

So You Want to Become a Benefit Corporation…Now What? Please join us for a workshop on the how and why of becoming a Benefit Corporation. During this 1 1/2 hour workshop, you will learn more about what a Benefit Corporation is, why it may be beneficial to your business and what it takes to become a Benefit Corporation. We will share our firsthand experience in drafting the legislation that created this ground-breaking new corporate form. About the Benefit Corporation Legislation The Benefit Corporation legislation, signed into law by Governor Brown on October 14, 2011, creates a new class of for-profit corporation in California beginning January 1, 2012 called “benefit corporations.” California is the 6th state to pass Benefit Corporation legislation, following New Jersey, Vermont, Maryland, Virginia, and Hawaii. California Benefit Corporations are identical to existing California for-profit corporations except that they: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) are subject to a modified fiduciary duty that requires consideration of the interests of employees, the community and the environment when making decisions; and 3) must publicly report annually on their overall social and environmental performance using a comprehensive, credible, independent, and transparent third party standard. The bill was sponsored by the American Sustainable Business Council, New Voice of Business, and B Lab.  The effort to pass the legislation was led by a legal working group co-chaired by Jonathan Storper. Presenters: Jonathan Storper Partner, Sustainable Business Group Chair Hanson Bridgett Jonathan Storper is a partner in Hanson Bridgett's Sustainable Business and Corporate practices. He represents companies and their investors in a full range of business and intellectual property transactions. He was one of the key attorneys who helped to author and pass the Benefit Corporation legislation. Jonathan also played an integral role in helping Hanson Bridgett become a Founding B Corporation.   Leslie Keil Senior Counsel, Sustainable Business Group Hanson Bridgett Leslie Keil is an attorney in Hanson Bridgett's Sustainable Business and Corporate practices. She advises entities and their investors in industries such as clean technology, socially responsible business, and smart/green development.   Thursday, January 19, 2012 5:30 pm – 7:30 pm Hanson Bridgett LLP 425 Market Street, 26th Floor San Francisco, California Directions » Pre-registration is required. Space is limited. Cost: $45.00 Register Now »   These events (and their attendees) may be photographed, videotaped, or otherwise recorded by Hanson Bridgett LLP. By attending, you consent in perpetuity to any and all use of your image, voice, or other participation in the event in any such recording.

Permalink Reply by Sue Lebeck on February 10, 2012 at 1:51pm

Today, New York openned its doors to Benefit Corporations.   This update from our friends at B-Lab. Check it out....

 

New York Rolls Out New Kind of Corporation

Secretary of State On Hand to Help 13 Businesses Become Benefit Corporations On First Day

Investors Interested in Businesses that Solve Social Problems

 

New York, NY: New York Secretary of State Cesar A. Perales was on hand to accept filing papers from New York’s first benefit corporations, a new kind of corporation that became available in New York for the first time today. Created when Governor Cuomo signed S.79-A (Squadron)/ A.4692-A (Silver), the benefit corporation passed both houses unanimously. 

 

This new law has the ability to transform the State and national economy by creating businesses that must create benefit for society and the environment in addition to profit.  Thirteen businesses from across the State rushed to adopt the new corporate form as they build a new economy.  One company even left Delaware and incorporated in New York State to take advantage of this innovative corporate form.  Currently seven states, including New York, have enacted benefit corporation laws.

 

“The creation of benefit corporations in New York is a testament to the strength of this global movement to redefine success in business” said Andrew Kassoy, Co-Founder of B Lab, a non-profit organization that supported the legislation.  “New York is the heart of global finance and now interested investors in New York have a way to make sure their money is doing much more than just making a profit.”

 

Benefit corporations are a new kind of corporation legally required to: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) expand fiduciary duty to require consideration of the interests of workers, community and the environment; and 3) publicly report annually on its overall social and environmental performance using a comprehensive, credible, independent, and transparent third party standard.  Traditional corporate law requires corporations to prioritize the financial interests of shareholders over the interests of workers, communities, and the environment.

 

"This legislation is a validation of the double-bottom line mission that Greyston Bakery has championed for the past 30 years and we are proud to be a part of business history in the State of New York as one of the state's first Benefit Corporations” said Mike Brady, President of Greyston Bakery, New York State’s first benefit corporation.

Investors are also interested in the new law.  "We like to back entrepreneurs who have embraced solving social problems as part of the goals for their companies,” said Albert Wenger, Partner at Union Square Ventures, an investor in innovative internet businesses like Twitter, Etsy, Edmodo, and Tumblr.   “We believe this creates more long term value for both shareholders and society.  The Benefit Corporation legal structure is an important innovation to help maintain that dual focus as the companies scale."

California, New Jersey, Virginia, and Hawaii passed similar legislation in 2011, joining Vermont and Maryland who did so in 2010. Benefit corporation legislation has also been introduced in Michigan, Pennsylvania, North Carolina, Illinois and the District of Columbia. The legislation has enjoyed strong bi-partisan support in every state.

 

“Congratulations to New York's first benefit corporations! The entrepreneurs lining up today send a clear message: New York is open for business in a huge new way," said Senator Daniel Squadron. "Starting today, benefit corporations will bring new businesses into our market and unlock billions in investments, all while promoting a new socially-minded approach to entrepreneurship. Today is a big day for all who believe that profitable business and social responsibility can be inextricably connected.  I look forward to welcoming many new benefit corps to New York in the coming weeks and months."

 

“Today, businesses in New York are now empowered to embrace social responsibility and to pursue vital goals such as safeguarding workers’ rights and protecting our environment as part of their core mission. By enabling benefit corporations in New York, we are continuing our efforts to strengthen and diversify our economy while demonstrating that profit and the pursuit of social justice are not mutually exclusive,” said Assembly Speaker Sheldon Silver, one of the Prime Sponsors of the Legislation.

 

"I am very happy this legislation is going into effect in New York," said Senator Bill Larkin (R-C, Cornwall-on-Hudson), a Co-Sponsor of the bill. "This new option allows our businesses to stay competitive while promoting best-practices that are good for both the environment and society."

 

"Governor Cuomo has opened New York for business while reinvigorating our tradition as the nation's progressive leader. By combining these key objectives, benefit corporations allow New York State businesses to pursue goals beyond the bottom line while promoting continued investment and development in our state," Secretary of State Cesar Perales said.

 

The New York bill had significant business support, including companies such as Eileen Fisher; Greyston Bakery, Icestone and Uncommon Goods, all interested in creating better choices for the growing number of entrepreneurs and investors who seek to create businesses that create both social and shareholder value. Numerous business organizations, such as Syracuse First, Buffalo First, Ithaca First, Onondaga Citizens League, The JustGreen Partnership and Westminster Economic Development Initiative, Inc., also supported the bill.

 

“The passage of Benefit Corporation legislation is an important and much needed step forward to grow our New York State economy,” said David Levine, co-founder of the American Sustainable Business Council whose members’ organizations represent over 100,000 businesses. “New York is helping to lead the way for the country with an innovative and sustainable business strategy that will grow businesses and create jobs which will also provide social and environmental benefit.”

 

The bill was originally proposed by the American Sustainable Business Council and B Lab; and the citizen advocacy campaign was led by Care2.com.

 

For additional background on benefit corporations, including national and local legislative updates, see www.benefitcorp.net.

First Day Registered Companies:

Agrodolce for Fast Foodies, Call2Action, Clay.com, Corn Cow Inc., eco, Greyston Bakery, On Belay Business Advisors, Outlier, Sahara Reporters, Singlebrook Technology, Stephen Vardin & Colleagues, Inc., Strugatz Ventures

 

Initial Supporters:

B Lab is a nonprofit organization dedicated to building a new sector of the economy that uses the power of business to solve social and environmental problems.  B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing; 2) driving capital to impact investments through use of GIIRS Ratings and Analytics; and 3) advancing supportive public policies to accelerate growth of social entrepreneurship and impact investing.  To earn certification, which is not required for registered benefit corporations, B Corps must achieve a verified minimum score (80 out of 200) on the B Impact Assessment and amend their bylaws to legally require their directors to consider the interests of stakeholders, not just shareholders, when making decisions.  For more information, check www.bcorporation.net.

 

American Sustainable Business Council is a growing coalition of business networks and businesses committed to advancing a new vision, framework and policies to support a vibrant, equitable and sustainable economy. The Council brings the business perspective, experience and strength to stimulate our economy, benefit our communities, and preserve our environment. Today, the organizations that have joined in this partnership represent over 65,000 businesses and social enterprises and more than 150,000 entrepreneurs, owners, executives, investors and business professionals and other individuals. www.asbcouncil.org  

 

Care2: With more than 17 million members and over 700 nonprofit partners worldwide, Care2 is the largest online community that empowers millions of individuals to lead a healthy, sustainable lifestyle and support important causes. Care2 is a B Corporation, or social enterprise, that generates revenues by connecting individuals with nonprofits and business that are making the world a better place. Care2 has worked with B Lab to provide thousands of signatures to advocate for Benefit Corporation legislation passed in California and New York. Founded in 1998, Care2 has collected over 80 million signatures on petitions featuring timely and important issues. Please visit the Care2 community at www.care2.com.  

 

State Senator Daniel Squadron introduced the legislation.   

Assembly Speaker Sheldon Silver was the Prime Sponsor in the Assembly.