VIP Speaker Series: Bart Houlahan

TL;DR

B Lab is a non-profit organization dedicated to supporting and certifying businesses that use capitalism for positive social and environmental change.

Transcript

bart along with his partners jayco and gilbert and andrew cassoy co-founded b lab in 2006 b labs non-profit organization dedicated to serving entrepreneurs using business as a force for good b-lab drives systemic change through three interrelated initiatives first certified b corporations incorporate certification for sustainable businesses and soc... Read More

Key Insights

• 👨‍💼 B Lab is focused on creating a better way of doing business by uniting businesses that use capitalism for positive impact through its B Corp certification.
• 🥹 B Corps are held to higher standards of social and environmental performance and must consider the impact of their decisions on stakeholders beyond shareholders.
• 👨‍💼 B Lab aims to redefine success in business by shifting the focus from solely financial returns to a more holistic approach that considers social and environmental outcomes.
• 👨‍💼 B Lab's work is not limited to the certification but also includes advocacy for legal changes to support businesses that prioritize social and environmental impact.

Questions & Answers

Q: What does B Lab do to support entrepreneurs using business for social and environmental change?

B Lab certifies and supports B Corps, businesses that meet higher standards for social and environmental performance. They also provide analytics and data platforms to drive funding towards impact investments. Additionally, they advocate for benefit corporations, a new legally recognized corporate form that enables companies to create both shareholder and social value.

Q: How does B Lab ensure the social and environmental performance of certified B Corps?

B Lab uses a rigorous assessment called the B Impact Assessment, which evaluates companies based on their impact in governance, workers, community, and the environment. B Corps are required to rewrite their corporate governing documents to include consideration of stakeholders beyond shareholders.

Q: How does B Lab address the challenges of measuring impact for B Corps?

B Lab recognizes the difficulty in measuring impact and strives to provide a roadmap for companies to improve their social and environmental performance. The B Impact Assessment serves as a tool for companies to track their progress, understand areas for improvement, and set goals for future impact.

Q: How does B Lab engage larger corporations that might be resistant to change?

B Lab recognizes that engaging larger corporations can be challenging. They have found success by working through subsidiaries and supply chain initiatives. Additionally, they highlight the financial benefits and long-term value creation that come with considering all stakeholders, attracting and retaining talent, and gaining consumer loyalty.

Summary & Key Takeaways

• B Lab is a non-profit organization that drives systemic change through three initiatives: certifying B Corps, providing data-driven analytics, and promoting benefit corporations.

• B Labs focuses on creating an environment in which employees are treated well, factories have strong codes of conduct, and businesses give back to the community and the environment.

• Bart Houlihan, one of the co-founders of B Lab, shares his journey from running a for-profit company to leading a non-profit that aims to change the way business is done.