ESG
We have unsettling news . Having been led to believe that financial success and doing good were mutually exclusive , it seems Certified B Corporations ( or B Corps ) are turning that established perception on its head .
Now , you can have it all , with B Corps outperforming other businesses when it comes to revenue , growth , stability , resilience , and ( importantly ) doing good at the same time when it comes to sustainability .
B Corps have always put purpose before profit , and that makes them attractive to their customers , local communities , and suppliers – not to mention their workers and potential investors .
But now , it seems being B Corp is also good for the bottom line .
B Lab is the nonprofit network that powers the B Corp movement , and while these findings have come from B Lab ’ s own white paper entitled Financial Performance and Resilience of B Corps , data was sourced from hundreds of thousands of businesses around the world who have taken the B Impact Assessment – a digital tool that can help measure , manage , and improve positive impact performance .
As such , the data is compelling , especially during times of economic disruption , such as the coronavirus pandemic .
From 2019 to 2021 , B Corps were more likely to grow their revenue and their headcounts , and they were more resilient – with 95 % remaining in business in 2023 compared to 88 % of non B Corp businesses . And while it takes considerable time and effort to achieve B Corp status , it tends to have a neutral or even positive financial impact . sustainabilitymag . com 61