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SSR

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Event

Description

When a company commits to operating as a Benefit Corporation (or B Corps) they must agree to the following dictum: “We envision a new sector of the economy which harnesses the power of private enterprise to create public benefit. This sector is comprised of a new type of corporation…which is purpose-driven and creates benefit for all stakeholders, not just shareholders” (B Lab, Inc., 2012). While there have been numerous attempts to introduce certification metrics promoting sustainable business practices in various industries, the researchers present an alternative to the notion of industry-specific certifications as the most effective course of action for promoting a sustainable society. The B Corps is presented to the textile and apparel sector as the next logical step in the evolution of sustainable business practices due to its cross-industry application. Additionally, B Lab, the non-profit behind the B Corps movement, has been instrumental in the legal redefinition of a corporation indicating a paradigm shift towards a ‘new economy.’

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Jan 1st, 12:00 AM

Discussing the B Corp: New paradigm, new economy

When a company commits to operating as a Benefit Corporation (or B Corps) they must agree to the following dictum: “We envision a new sector of the economy which harnesses the power of private enterprise to create public benefit. This sector is comprised of a new type of corporation…which is purpose-driven and creates benefit for all stakeholders, not just shareholders” (B Lab, Inc., 2012). While there have been numerous attempts to introduce certification metrics promoting sustainable business practices in various industries, the researchers present an alternative to the notion of industry-specific certifications as the most effective course of action for promoting a sustainable society. The B Corps is presented to the textile and apparel sector as the next logical step in the evolution of sustainable business practices due to its cross-industry application. Additionally, B Lab, the non-profit behind the B Corps movement, has been instrumental in the legal redefinition of a corporation indicating a paradigm shift towards a ‘new economy.’

 

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