B Lab

Definition

B Lab is a nonprofit organization that certifies companies globally as B Corporations (B Corps), recognizing their commitment to social and environmental performance, accountability, and transparency. This certification entails meeting rigorous standards of public transparency and legal accountability to balance profit and purpose.

Related terms

Corporate Social Responsibility (CSR): A self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public.

Stakeholder Engagement: The process by which an organization involves people who may be affected by the decisions it makes or can influence the implementation of its decisions.

Social Entrepreneurship: The use of startup companies and other entrepreneurs to develop, fund, and implement solutions to social, cultural, or environmental issues