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What is a B Corp and Why It's Important

1 min read

What is a B Corp and Why It's Important

The Gray Lane Beauty team went through a rigorous effort to get certified as a Pending B Corp. What does it all mean and why is it important? 

WHAT ARE B CORP.S?

Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their employees, customers, suppliers, community and the environment. This is a community of leaders, driving a global movement of people using business for a force for good. B Corp companies include Patagonia, Ben & Jerry's, and Kleen Kanteen. 

WHAT IS A PENDING B CORP?

Pending B Corp.s are companines with less that a year's revenue but who go through the rigorous B Impact Assessment (like the major B Corp companies) and ultimately meet the legal requirement for certification. Over 100 companies have sought out Pending B Corp in order to:

  • Signal to current and future partners that Gray Lane Beauty is already beginning to measure and manage our social and environmental performance with the best tools possible; 
  • Demonstrate strong corporate governance by adopting the legal framework early to protect mission and brand equity from the beginning.

WHY IS IT IMPORTANT?

B Corp.s are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountabiulity to balance profit and purpose. B Corp.s are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy. 


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