What is a Benefit Corporation?
A benefit corporation is a new class of corporation that voluntarily meets different standards of corporate purpose, accountability, and transparency.
1) have a corporate purpose to create a material positive impact on society and the environment
2) are required to consider the impact of their decisions not only on shareholders but also on workers, the community, and the environment
3) are required to make available an annual benefit report that assesses their overall social and environmental performance against a third party standard. Such report does not need to certified or audited by a third party, but use the standard as an assessment tool.
Becoming a benefit corporation gives entrepreneurs and investors an additional choice when determining which corporate form is most suitable to achieve their objectives.
Broadgreen Solutions started life by incorporating as a Benefit Corporation in Delaware due to Delaware’s status as a leader in strong corporate governance. We chose to become a Benefit Corporation due to our commitment to social entrepreneurship.
For more information visit the Benefit Corporation page.
What are B Corps
B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk.
B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency.
Today, there is a growing community of more than 1,000 Certified B Corps from 33 countries and over 60 industries working together toward 1 unifying goal: to redefine success in business.
At Broadgeen Solutions, we regard B Corp certification as the gold standard of purpose-driven for-profits. We are actively pursuing this coveted certification.
For more information, please visit the B Lab site.