By Tina Rosenberg
On Tuesday, I wrote about B Corps, or benefit corporations. These are companies that have changed their bylaws to take into account the impact of their decisions on the environment, community and employees, as well as profits. To become a B Corp, a company must also get a passing score on an assessment of its business practices administered by a nonprofit group called B Lab. About 400 companies have become B Corps, and the idea is spreading fast.
Readers had a lot of praise for the idea of the triple bottom line: people, planet and profits. But many businesses are wary. It’s great to be socially responsible — but not if it means you won’t be around next year. Businesses want to know if they can become B Corps without sacrificing their more traditional bottom line.