B Lab recognizes that high-quality social and environmental business standards demand continuous improvement in order to meet principles of inclusion, independence, and credibility. Developed according to standards best practices and informed by stakeholder input and research, our standards have continuously evolved since our founding in 2006.
B Lab standards are multi-faceted and include:
A comprehensive tool to measure, manage, and improve a company’s positive impact performance for workers, communities, customers, suppliers, and the environment. A required verified score of 80 on the B Impact Assessment also serves as a certification requirement for B Corp Certification.
An assessment of eligibility for B Corp Certification based on a review of potentially negative impacts associated with a company’s industry and other practices.
Additional baseline requirements for large companies which are defined as a parent company generating $5B+ in annual revenue.
We update and improve our standards on a regular basis. While specific revision mechanisms will vary by the nature of the project, all standards development projects are informed by research and multi-stakeholder input. B Lab’s standards are independently governed by B Lab’s Standards Advisory Council and Board of Directors, with input from external stakeholders and various Working and Advisory Groups.
What’s Next: Balancing Ambition and Continuity as We Implement Our New Standards
At the moment, B Lab is in the midst of the biggest transformation in B Lab’s 17-year history. While change is exciting, it can also be challenging. B Lab’s top priority is to ensure impactful and clear standards as soon as possible, while bringing the B Corp community on this journey with us.
Now that a second consultation on the standards has taken place (from January – March 2024), B Lab’s next focus is to update the draft of the standards to share with our governing bodies for refinement and approval. If approved, B Lab will begin to translate and prepare the standards into an external-facing format that can be accessed publicly. B Lab’s ambition is to have final approval on the content of the standards by the end of 2024 and publish in full soon afterward (dependent on the level of changes required in response to stakeholder feedback and receipt of governing body approval).
Last updated: 10th June 2024
Oversight of the B Impact Assessment is the responsibility of B Lab’s Standards Advisory Council, an independent committee of 20-22 members, each with deep industry or stakeholder expertise. The Standards Advisory Council is divided into two subgroups — one to oversee the content and weightings for the version of the B Impact Rating System that is appropriate for companies and funds in developed markets; the other for the version that is appropriate for companies and funds in emerging markets.
