Social cause companies badging themselves with B Corp certification
Implications - B Corp certification is a new accreditation given to companies that use the power of business toward social and environmental issues. The number of B Corps is steadily increasing, with over 450 companies currently certified, and the impetus for the certification is clear: Just as Fair Trade and LEED certifications elevate the appeal of certain products to cause-driven consumers, so too does B Corporation certification elevate a company's brand image. Not only that, this new level of certification stands to change the way social businesses -- and perhaps even profit-driven businesses -- are created and operated, as well as redefine business success in today's socially conscious society.
Trend Themes
1. B Corp Certification - More companies are obtaining B Corp certification, spurring the transformation of social businesses and redefining business success in a socially conscious society.
2. Social Impact Technology Platforms - Technology platforms like Causefinity help companies and not-for-profits develop impactful and engaging fundraising, corporate social responsibility, and donation systems.
3. Mission-based Investing - Investment funds like Renewal2 seek to create positive change in the social and environmental sectors, working with entrepreneurs and investors to facilitate triple bottom line impact.
Industry Implications
1. Environmental & Socially Focused Companies - Companies like Patagonia embed social missions into their business models and have a history of environmental initiatives, indicating an opportunity to combine business and philanthropy to facilitate triple bottom line impact.
2. Clean Energy Providers - Companies like Sun Light & Power, the oldest solar company in California, offer total energy solutions for commercial and residential buildings with a focus on projects for non-profit organizations and carbon offsets.
3. Payment Processing Companies - Companies like Dharma Merchant Services apply mindful and socially conscious practices to their business models, donating profits and services to charitable organizations and using green initiatives.
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Date Range:
Jun 11 — Mar 12
Trending:
Mild
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