B Lab, the nonprofit that certifies B Corporations--companies that meet strict legal accountability, environmental, and social performance standards--has only been around for half a decade. During that time, over 500 companies throughout the U.S. registered as B Corporations.
All the certified corporations have been evaluated with the B Impact Assessment, a free sustainability management tool, to benchmark their success. Using those scores, B Lab has culled the best of the best--the companies that have the highest social and environmental impact out of all the corporations that meet B Lab’s standards for certification. These companies, which all scored in the top 10% on the B Impact Assessment, embody the triple bottom line.
The B Impact Assessment looked at three categories. First, how a company affects the environment, measured by the footprint of its products, manufacturing, and supply chain. Second, community, as measured by things like labor practices, company diversity, and charitable giving. Finally, the B Impact Assessment looks at a company’s workers: how much they’re compensated, whether they’re offered benefits or training programs, and generally whether the corporate culture supports them.
When all these factors were added up, B Lab came out with the top 10%: Better World Books, Global Green Energy Corp, Green Building Services, Larry’s Beans, Method Home Products, Moving Forward Education, Namaste Solar, New Resource Bank, Next Street, Partnership Capital Growth, Piedmont Biofuels, PREM Group, Re:Vision Architecture, RecycleBank, South Mountain Company, Southern Energy Management, SQA Pharmacy Services, The Redwoods Group, and Virginia Community Capital.
Some of these may sound familiar. Co.Exist has written about Better World Books, which collects books that libraries and colleges are going to throw out and sets aside part of each book sale for its nonprofit literacy partners. We have also extensively covered Method, the cleaning supply company that only offers nontoxic products. RecycleBank was named one of Fast Company’s Most Innovative Companies in 2012.
The others are not quite as well known. San Francisco residents might have heard a little something about New Resource Bank, a local bank that finances green businesses and cleantech companies. Next Street also has a hand in the banking industry--the company’s Next Street Opportunity Fund offers capital to urban business owners based on potential, not just their history.
These companies don’t just do good, they also make money. For example, Better World Books has managed to grow its revenue at the same time as it grows in impact.
Revolution Foods, another B Corporation (but one that didn’t quite make the top 10%) has also seen a rise in both revenue and impact. The company, which Fast Company listed as one of the top 10 most innovative companies in food, offers healthy, unprocessed lunches to schools in eight states and Washington D.C.
B Lab’s annual report lists a host of other companies that make the top 10% in individual categories--environment, community, and treatment of workers. For the full list, check out the report (PDF).