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2) Certified B Corporations (B Corps)

Certified B Corps, or Certified Benefit Corporations, are companies that have undergone a
certification process administered by the B Lab Foundation, a nonprofit organization established
in 2006 in Pennsylvania. B Lab was founded with the mission of promoting the creation and
growth of businesses that pursue economic objectives alongside positive social and
environmental impacts. The letter “B” signifies a commitment to benefit the broader community,
beyond simply generating profits for shareholders.

B Lab provides consultation and support for companies seeking certification. Once a company

meets B Lab’s standards, it receives B Corp certification. To facilitate the global expansion of the
movement, B Lab has formed a network of regional organizations called B Lab Global Partners
across various regions, including Latin America (Sistema B), the United States and Canada (B Lab
US and Canada), the United Kingdom (B Lab UK), Oceania (B Lab Australia & New Zealand), Taiwan
(B Lab Taiwan), and the European Union (B Lab Europe). In East Asia, where the movement is still
in its early stages, B Lab operates through a regional network called B Market Builders, which
currently includes Japan, China, South Korea, Singapore, and Hong Kong. Additionally, the B Lab
network has expanded significantly, with B Lab–affiliated foundations now established in
numerous countries. These organizations oversee the certification process, organize conferences

and events, and support B Corps at the local level. Countries with an active B Lab presence include
Spain, France, Benelux, Canada, Denmark, Italy, Germany, Portugal, and Switzerland, as well as
Argentina, Brazil, Central America, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, and Uruguay.
In sum, the B Corp movement is rapidly expanding, particularly across the Americas and Europe,
representing a growing global trend toward purpose-driven businesses.

To become a Certified B Corporation (B Corp), a business must have been operational for at least
12 months and must complete the B Impact Assessment. This assessment evaluates a company’s
impact across five dimensions: governance, workers, community, environment, and customers.
Each dimension focuses on how the company integrates social and environmental values into its

core operations. While the assessment covers a wide range of practices, B Lab emphasizes
transparency, accountability, and measurable outcomes. Below are illustrative examples of the
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types of criteria assessed within each dimension:
• Governance: Includes elements such as the company’s mission related to social and
environmental goals, transparency practices, anti-corruption policies, and whether
social/environmental reports follow standards like the Global Reporting Initiative (GRI) and
are independently verified.

68 Ana Montiel Vargas, B Lab and the Process of Certifying B Corps, in Henry Peter et al. (eds.), The International
Handbook of Social Enterprise Law, Springer Nature Switzerland, 2023, pp. 281-299.
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