What is a Certified B Corporation?
B Corporation certification (also known as B Lab® certification or B Corp certification) is a private certification issued to for-profit companies by B Lab, a global nonprofit organization with offices in the United States, Europe, Canada, Australia, New Zealand and a partnership in Latin America with Sistema B. To be granted and to preserve certification, companies must receive a minimum score on an online assessment for “social and environmental performance,” and satisfy the requirement that the company integrate B Lab commitments to stakeholders into company governing documents. Companies must re-certify every three years to retain their B Corp status.
Firespring’s B Corp Journey:
Firespring became the first company in Nebraska to achieve B Corp certification in July 2014. At the time, there were slightly more than 1,000 Certified B Corporations worldwide. Today there are over 8,000.
Becoming a Certified B Corporation introduced Firespring to a community of like-minded businesses from diverse industries, countries and cultures. We are companies who advocate, educate and inspire—each other and the world—to do better. And we proudly carry the flag for this community of leaders as we work together toward a single unifying goal: using business as a force for good.
What is a benefit corporation and how is it different than a Certified B Corporation?
Benefit corporation is a legal status conferred by state law in the United States whereas B Lab certification is issued by a private organization and has no legislative framework. B Lab certification is not needed to obtain benefit corporation status. Legislation for the passage of this corporate legal status has been passed in 37 states, including Nebraska.
A benefit corporation voluntarily meets the highest standards of corporate purpose, accountability and transparency. Benefit corporations have a corporate purpose to create a material positive impact on society and the environment, have expanded the fiduciary duty of their directors to include consideration of stakeholder interests and are required to report on their overall social and environmental performance.
Firespring’s Benefit Corporation Journey:
Firespring, Inc. became the first legally incorporated benefit corporation in the state of Nebraska, having filed on the date that the Nebraska Benefit Corporation Act became effective on July 18, 2014.
Benefits of Becoming a Certified B Corporation and Benefit Corporation
A community of leaders with shared values. The strength of the B Corp community—and the sense of being part of something bigger than our individual business—is one of the most deeply fulfilling aspects of B Corp certification.
Protecting Firespring’s mission for the long term. B Corps, in addition to meeting rigorous standards of social and environmental performance, amend our governing documents to be more supportive of maintaining their social and environmental mission over time.
Identifying areas for improvement. B Corp certification is an independent, precise, third-party standard that evaluates every aspect of our business—from how we treat our team members, to our community involvement, to our overall effect on the environment. We believe this will help us continue to create social, environmental and financial value.
Attracting and retaining top talent. Many studies have shown that the best people want to work for a company with a larger purpose. B Corp certification helps us signal to prospective and existing team members that we are committed to using business as a force for good.
Building collective voice. Many of the movements taking place around the globe—from clean tech, microfinance and sustainable agriculture to the buy local and cooperative ownership movements— are manifestations of the same idea: how to use business for good. The B Corporation organizes and amplifies the voices of this diverse marketplace behind the power of a unifying brand.
