A Benefit corporation "is effective in over half the country and numerous states are working on it." Benefit corporations:
- "have an expanded purpose beyond maximizing share value to explicitly include general and specific public benefit"
- are required to consider the impact of their decisions not only on shareholders but also on workers, community, and the environment; and
- are required to make available to the public an annual benefit report that assesses their overall social and environmental performance against a third party standard.
A Certified B Corporation is a certification conferred by the nonprofit B Lab.
- "Each Certified B Corporation has achieved a verified minimum score on the B Impact Assessment (80 points out 200 needed).
- Benefit corporations do NOT need to be certified."
Source: Benefit Corp Information Center
