supporting the new economy
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aroundsquare is proud to be a certified B Corporation. unlike regular businesses which are driven by profit alone, AO2 leverages the tools of business to generate benefit. while most businesses have a single bottom line, profit, aroundsquare has four. in addition to being financially viable, aroundsquare strives to deliver social, developmental and environmental benefit through incorporating these values into all decision-making related to the products developed and the processes used to bring them to the market.
AO2's certification as a B Corporation signifies that this is not just empty rhetoric.. this is not green, or red, marketing. B Labs, the organization which certifies B Corporations, has a rigorous certification process involving a detailed survey and follow-up process in which prospective companies are required to back up claims with appropriate documentation. aroundsquare has done this, and has been certified in good standing since the summer of 2010.
certified B Corporations meet higher standards of social and environmental performance, transparency, and accountability. essentially, it is like LEED certification, but for businesses rather than buildings. the performance standards are comprehensive and transparent. they measure a company’s impact on its employees, suppliers, community, and the environmental.
unlike traditional corporations, certified B Corporations are legally required to consider the impact of their decisions on their employees, suppliers, community, consumers, and environment.
in the long term, this will lead to a legally recognized new corporate form and tax incentives, procurement preferences, and a social stock exchange for sustainable businesses.
recently, there has been some good press about B Corporations and the movement surrounding us.. so a few links:
an article on the Huffington Post from 2012/02 about B Corps in Canada
an article in the NY Times from 2011/04 by Pulitzer Prize winner Tina Rosenberg here and here
aroundsquare's profile as a B Corporation
about B Lab...
B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives:
1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing;
2) accelerating the growth of the impact investing asset class through use of B Lab’s GIIRS impact rating system by institutional investors; and
3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business.
