B Corporations are a new kind of company which uses the power of business to solve social and environmental problems.
There are currently over 515 Certified B Corporations from sixty industries.
Certified B Corporations meet higher standards of social and environmental performance, transparency, and accountability.
It's like a LEED certification, but for a business, not just a building (or Fair Trade certification, but for a business, not just a bag of coffee).
The performance standards are comprehensive and transparent. They measure a company's impact on its employees, suppliers, community, and the environment.
Unlike traditional corporations, Certified B Corporations are legally required to consider the impact of their decisions on their employees, suppliers, community, consumers, and environment.
Long term this will lead to a legally recognized new corporate form (like a C corp or an S corp) and tax incentives, procurement preferences, and a social stock exchange for sustainable businesses. Already seven states (CA, NY, MD, VT, VA, NJ, HI) have passed Benefit Corporation Legislation, and the city of Philadelphia passed a tax break for Certified B Corporations in December 2009.