Scaling Benefit Corporations
and B Corp Certification
The purpose of this Solution Initiative is to scale the adoption and implementation of the Benefit Corporation Legislation internationally. It gives companies the opportunity to legally commit to serve all stakeholders rather than only shareholders. So far 15,000 companies have become Benefit Corporations in Columbia, Ecuador, France, Italy, Rwanda and the US.
Benefit companies are required by law to report on their performance for diverse stakeholders. One of the ways to assess a company’s beneficial impact for them is the B Corp Certification, the scaling of which this Solution Initiative also supports. The B Corp Certification allows companies to measure and independently audit their governance and their impact on their teams, supply and value chain, society, the environment and the climate.
There are currently 6,000 companies in 80 countries that have achieved B Corp certification. They include Natura and The Body Shop, Danone, twelve Unilever brands, Patagonia and Triodos Bank. Another 280,000 businesses use the B Corp Impact Assessment and its ESG Action Manager to evaluate their performance.
The Benefit Corporation and B Corp movement was co-founded in Europe, Latin America, Africa and Asia by partners of the Future Economy Forum’s secretariat NOW Partners. It developed out of the economic innovation movements that the Forum’s founders co-founded and co-led over the past 40 years. In 2022 Italian Senator Mauro del Barba and Italy’s Association of Benefit Corporation, Societa Benefit were awarded the Future Economy Forum’s Leadership Award for their role in creating and scaling the implementation of the Benefit Corporation Legislation. Read more here.