What was the nature of their innovation and how did it contribute to humankind? Jay Cohen Gilbert, Bart Houlahan and Andrew Kassoy decided in 2006 that rather than start another new business, what the world needed most was an entirely new kind of business which would have a legal framework that made the values of sustainability and community benefit as central to its operation as the need to earn money. They established the B Lab, and laid the groundwork for what became the Benefit Corporation. By 2019 there were 2,950 certified B Corporations in 150 different industries in 64 countries around the world, proving that a business can succeed in a highly competitive market without having to sacrifice nature, the climate, and common human decency.
Unlike a Milton Friedman corporation, which has no purpose apart from share value maximization, a Certified B Corps is legally required to consider the impact of its decisions on its workers, customers, suppliers, community and the environment. B Corps are actively building an economy that is inclusive and regenerative, and 2,933 B Corps around the world in 150 different industries are living proof that these new values-based corporations can be successful.
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This content is created by the open source Your Priorities citizen engagement platform designed by the non profit Citizens Foundation