First created in US law in Maryland in 2010, the Benefit Corporation is a new legal status of incorporation that requires organisations both to make profit and to serve a greater societal purpose. Crucially, they have a fiduciary duty to their shareholders on both counts, not just on profit, and so must state and report against a measurable public benefit.
Baby food brand Plum Organics was among the first to adopt this status, committing them to raise awareness and advance solutions for childhood hunger and malnutrition in the United States – not just sell baby food – and committing their shareholders to hold them to it. The associated voluntary certification system, the B Corporation movement, arrived in the UK in 2015.
Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
Although not food specific, they do include UK food brands, and there is inspiration to be drawn from the community of pioneers they are building, how businesses support one another and learn from each other, whether it is from their online forums or in-person events.
What we love about them:
We love that the B-corporation community has an online platform for different departments to share knowledge, help one another and provide mentoring support for employees of the member organisations.
More information: https://bcorporation.net/
A big welcome to Sipsmith, now a B Corp 🙌 “It has always been our mission to champion a better way of crafting gin and pioneer positive changes within our industry”. Thanks for being part of the movement crafting a better future #bthechange https://t.co/KaVdL170U5 https://t.co/GaEoLo333K
We are thrilled to announce that we are now a Certified @BCorporation™, meaning we join a community of businesses who have been recognised for their commitment to operate in a way that has a positive impact on people and the planet.
Find out more here: https://t.co/xomIqn5oG1 https://t.co/ynfBQ1EUq6
The ocean produces at least 50% of our oxygen, and it is also the primary source of protein for more than a billion people. Businesses must work towards SDG 14: Life Below Water to protect the biodiversity of our ocean. #WorldOceanDay https://t.co/gR3JOO16ZP https://t.co/PFl3glaUxo
The B Corp movement is transforming the global economy to benefit all people, communities, and the planet. We believe in restoration, not exploitation, and our community of Certified B Corporations are leading the way. #WorldEnvironmentDay