This infographic by GOOD & Deeplocal explains what B-Corporations are, along with their benefits. B-Corporations are businesses that seek to solve environmental and social problems; a non-profit organization called B-Lab determines eligibility, and certifies companies to ensure that they follow and meet standard requirements. In order for a company to qualify as a B-Corporation, they have to earn a score of 80 or more on a specialized assessment.
According to this chart, there are now 500 B-Corporations in over 60 different industries. Several states in the US have passed legislation to allow companies to set up this type of business. Currently, Michigan, Colorado, Pennsylvania, Washington, Illinois and North Carolina are awaiting approval.
B-Corporations are a great way for businesses to positively contribute to society, as the model helps generate innovation in areas of social and environment issues.
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